Main event today will be a meeting between EU ambassadors aiming to close a dealon so-called phase 3 sanctions against Russia that involves the financial, defence andhigh-tech energy sector. The new sanctions could come into force within 24 hours ofa deal being reached according to an EU spokesperson. If new sanctions are agreedon, it could lead to a further decline in risk sentiment.
On the data front the US releases consumer confidence for June from ConferenceBoard, which is expected to rise to 86 (consensus 85.5) from 85.2 in May. It wouldmark a new six-year high for consumer confidence currently boosted by stronger jobgrowth and robust wealth gains.
US data on house prices from Case-Shiller for May are expected to show a furthergain of 0.3% m/m in May. House price increases have come off from the strong levelslast year but are still rising at a 7-8% level on a three-month annualised basis.
Read the full report: FX Daily