EURUSD, AUDUSD Breakout Expectations Ease, SPX Ends Best Quarter in 22 Years

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• Tuesday closed out the second quarter with the largest risk-leaning rally – at least for the S&P 500 – since 4Q 1998; but rebound should not overshadow volatility
• Growth figures were a key theme this past session and will likely be again Wednesday with EM PMIs in particular, but remember COVID fears and trade pressures
• EURUSD and AUDUSD sentiment data shows the heavy net short speculative anticipation is progressively easing as congestion holds for both pairs, but I’m more cautious

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