UK CBI – June 25
–  18
– Total distributive reported sales 40
– Prior 43
GBP unfazed. I mean if the BoE can’t find a reason to be hawkish, then the GBP is not getting going for anything. Note the reading for this month is not on the chart – it is on the box under ‚actual‘ and

Yields buoyant & Sonia futures are too
The general recovery in the UK on vaccine optimism has kept UK gilts yields moving higher.From Jan 04 to June 08 UK yields have moved higher by 60 bps outperforming the euro, Swiss franc, and the JPY. 

Lots and lots 
Hard to think of slower markets today.  
 
Still looking for an explanation after the Fed’s latest hawkish dot plot shift then here are the Fed speakers up later today and there are a lot of them. The biases noted. Hopefully they will inject some life into things.

But subject to conidtions, RTE
– EU’s Sefcovic has advised member states that extension to N.Ireland protocol should be granted swiftly

European Session June 23
Other markets
. It remains a buy on the dips. There are rumours circulating that a deal is getting closer between Iran and the US, but no confirmation yet. However, even though a deal should send oil lower in the immediacy, this dip should find buyers as the fundamental outlook is strong.

Don’t add to losing trades
Another very common trading mistakes that people make is adding to a losing trade. The thinking is that by adding more to the position the original loss will be compensated by an even greater reward. It is an easy mistake to make, but it ends in over exposure to one market.

Just don’t do it 
Sometimes in trading we can be very uncertain regarding a trade. You know the sentiment is just not that clear, so you may start to feel uncomfortable. 

Mortgage Bankers Association for week ending 18 Jun
Mortgage market robust and plenty of growth in the pipeline. Refinancing up shows more applications are in the pipeline.  Purchase index higher too which is used for the sole purpose of buying a private home. 

European Session June 22 
Other markets
– FTSE +0.22%
– Euro Stoxx -0.3%%
– Italian FTSE -0.43%
– Dax +0.05%
– CAC +0.05%
Oil was further supported on demand recovery hopes & OPEC+ is making sure supply is tight. Private inventory data out tonight.  The drag on inventories and the pushing out of  alongside raising bullish forecasts have all supported the crude complex.  The

Via Reuters