Today we expect the day to be one with medium volatility. The day began with positive news from New Zealand, where the trade deficit narrowed in May, according to the recent reports. At the same time, the volume of imports and exports increased, which may indicate an increase in production activity. The New Zealand dollar is strengthening today, but tomorrow may retreat at the end of the RBNZ meeting.
The focus of investors today is the speech of the Federal Reserve Chairman Jerome Powell, which will be held in the evening. It is expected that the Fed will confirm their plans to reduce the rate. Thus, the dollar is now declining against major currencies. Also, we expect from the US data on the real estate market, as well as the consumer confidence index.
The situation on the raw materials market is unchanged today. Gold continues rising in price and reached the maximum level in 6 years. At the same time, there is every chance for it to continue growing in price, taking into account the FED's plans. Oil is kept at a high level due to the conflict between the US and Iran.
In general, the market situation is very predictable. Even the continuation of the growth in the value of Bitcoin, which has risen by $1000 in just a day, is not surprising. Therefore, it's time to be active and trade.
