What will Drive FX Markets Today

There are not any major events today in our calendar, earlier in Japan the IHS Markit Flash Manufacturing Purchasing Managers’ Index came in to 49.5 in June, from 49.8 in May worst than analyst’s expectations. An emergency meeting has been called for the morning with Japan’s Finance Ministry, the Financial Services Agency, and the Bank of Japan to discuss the Yen rally and the escalation in Middle East.

EURUSD traders are awaiting the Eurozone PMI reports, analyst’s consensus stands at 48 for June, and they will focus on German PMI figures that has disappointed in the latest readings.

President of the Deutsche Bundesbank Jens Weidmann will deliver a speech, while in the other side of the Atlantic Fed members Daly, Mester and Brainard, will also hit the wires during US session.

Yen is the stronger during Asian session as USDJPY hit the low at 107.04. Gold managed to break above the $1,400 mark and retreated back below, while Bitcoin breaks higher from the 9,500 resistance zone. EURUSD is trading flat below the 1.13 level while GBPUSD consolidates below 1.27.