Stocks looking for direction this morning

Stocks looking for direction this morning 150 150 Realm

Stocks are looking for direction this morning with little market moving news available. Investors remain focused on inflation prospects and central bank’s likely response. The Fed’s Richard Clarida said in an interview that discussion may begin re an appropriate time to start scaling back. Investors will be monitoring a speech later today from Fed Vice Chair, Randal Quarles, for any change in view that inflation pressure are “most likely to be transitory”.

The US dollar index is trading close to the low for the year after falling heavily throughout April and May. GBPUSD at 1.41, is strongly higher than 1.22 this time last year.

Crytocurrencies also remain in focus with China intensifying its crackdown on bitcoin.

 

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