Ready to Trade in the NY Session? See First What Happens In The Market

 Markets moved calmly into the European session with major currencies again recording modest gains against the greenback dollar after a previously gloomy session.

The US dollar failed to sustain its previously recorded gains, with the dollar index slipping back to around 91.97, not far from the one -month low it reached last week.

The next market focus is targeted at the release of US manufacturing PMI data of the ISM survey tonight, which is expected to record modest growth in July.

The pound sterling returned positive, finding strong support for a higher rise in the European session, amid market optimism over vaccination progress and declining coronavirus cases in the UK.

Concerns over the easing Brexit issue also helped the pound, with market focus now shifting to the Bank of England (BOE) policy meeting on Thursday this week.

Meanwhile, the Aussie dollar traded back stable after disappointing Caixin China manufacturing data readings had a temporary effect on the risk -sensitive currency.

The Reserve Bank of Australia (RBA) policy meeting tomorrow will be the main focus of the market, which it is expected to pull back on previous decisions to reduce stimulus following the implementation of the protracted Covid-19 blockade.

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