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.
Disclaimer: ‘Where the business has expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice. The information contained within this communication is believed to be reliable but Realm Investment Management Limited does not warrant its completeness or accuracy. This communication is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell investments.’