No significant events expected today.

The Tuesday market session saw little data: the UK was absent from the market, and US data was strictly average. The Richmond Fed Manufacturing Index for June sharply dropped to -10 from the previous value of 0, completely missing the forecasted rise to 2. The CB Consumer Confidence Index also fell, but not as much as expected: the sentiment indicator dropped to 100.4 from the previous value of 102.0, just slightly below the forecast of 100.0.

Thursday will bring important data: the latest Bank of England Financial Stability Report, followed by US Durable Goods Orders and revised GDP data for the first quarter.

Friday will conclude the trading week, which is otherwise not very significant, with the revision of the UK’s quarterly GDP and then the latest data on the US Personal Consumption Expenditures (PCE) Price Index. Investors will be looking for further declines in critical US inflation indicators to support the Fed’s readiness for the first rate cut at the FOMC meeting on September 18.

Recommendations: Primarily trade buy orders at the price level of 1.2710. Consider sell orders at the price level of 1.2640.