Kiwi teeters but holds
Today’s close in NZD/USD is on track for the lowest since April 12. The good news is that the May intraday low has held. If it breaks, there isn’t much support until 0.7040.

Oil prices continue to sizzle but Saturday’s Iran meetings are a big risk
WTI crude oil rose 61-cents to $70.91 today and finished the week up 1.8% after a minor stumble on Monday.

Rising UK cases lead to delay reopening
The UK has reported 7200 cases in each of the past two days — the highest since February.
A reopening delay has been speculated on for the past two weeks and now there are multiple that it will be pushed back until July 19.

Forex news from the European trading session – 11 June 2021
Headlines:
Markets:
– USD leads, NZD lags on the day
– European equities higher; S&P 500 futures up 0.2%

German chancellor Angela Merkel and US president Joe Biden arrange a meetup for next month
„President Biden looks forward to welcoming Chancellor Angela Merkel of Germany to the White House on July 15, 2021. Chancellor Merkel’s visit will affirm the deep bilateral ties between the United States and Germany. The leaders will discuss their commitment to

A rather muted trading day so far
Once again, major currencies are lacking much poise in European morning trade and there has been a sense of trepidation for much – if not the entirety – of the week.

And that is the tagline that all central banks are trying to sell

Remarks by ECB policymaker, Klaas Knot
here

Forex news from the European trading session – 10 June 2021
Headlines:
Markets:
– AUD leads, GBP lags on the day
– European equities lower; S&P 500 futures flat

ECB announces their latest monetary policy decision – 10 June 2021
The part on PEPP highlighted in bold is the key takeaway i.e. no changes from policy as laid out back in April. The language on rates is also similar and that is no surprise as the ECB steers clear of any taper talk in the