Daily Market Commentary 29th June 2021

There was little economic data released, to begin what will be a week focused on inflation and jobs, culminating in the all important Non Farm Payrolls released Friday. German Import prices came in higher than expected, jumping to increases of 11.3%, for the year. This follows a series on data showing inflation spiking in global economies. US equity markets were flat but are still trading around record historical highs. The Dollar was flat, with the EUR trading 1.1925, while the GBP held below 1.3900.

Commodity currencies remained soft, with virus spikes forcing further lock-down restrictions. The AUD traded around 0.7550, while the NZD consolidated above 0.7000, with the travel bubble between the two countries shutdown, once again. It appears that Government have learned little in the pandemic and employ the same MO as they did early last year? Vaccine roll-outs are being increased but it these do not prevent the virus spreading. Lots of masks around again.