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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Look ahead: US bank stress test results; German consumer confidence; Australia inflation; Micron Technology

The state of the US banking industry swings into focus with the results of the latest bank stress tests. US new home sales come ahead of this week’s key PCE reading.

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Watch out for German Gfk and the monthly CPI indicator from Australia. Micron Technology is expected to report a 77.6% increase in quarterly revenue.

(Partial Video Transcript)

AUD/USD

Angeline Ong: Hello, I'm Angeline Ong and welcome to IG. This is your special “Look ahead” to Wednesday, the 26th of June. Now there's a lot of buzz out there about NVIDIA and also the overall market. So whether or not we are seeing this trigger right now in terms of the investor sentiment, whilst all that is shaking out, we do have quite a few notable opportunity events and risk events, too, in the coming session.

We've got Australia's monthly CPI indicator expectations from 3.8% year on year. We get that figure. It would be up from 3.6% the previous month. Just taking a look at the AUD/USD, because this is a really interesting chart given the carry trade currencies have really benefited amid all that Japanese yen intervention talk.

The Aussie dollar versus the US dollar: well, this cross has been rising since April. As you can see here, where I'm drawing this line here, and there's a medium term uptrend in play there. However, the pair is currently sliding slightly downwards overnight. The lift was aided by US yields which dropped. Also, it has to be said that all this might change with the PCE out later in the week and also the US consumer confidence figure out later and also the April Case-Shiller housing data.

Fed speaker updates

Remarks from Fed’s Cook and Bowman may also impact risk sentiment if they say anything at all about the Fed dialing back rate cut expectations further. Later on in the session, we've got Gfk consumer confidence figures out of Germany. Expectations are for June: -19.8. If we get that reading, it comes after -20.9 in May. So a slight improvement, but still negative territory.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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