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It was also a solid week for the US Dollar, which after persistent weakness, managed to see gains against the majority of its G10 counterparts.
Traders may be further accepting the Federal Reserve’s outlook for the economy, seeing near-term rising inflationary pressures as transitory.
Chair Jerome Powell will almost surely be questioned about the latest CPI report and what the path for policy tapering could look like.
In addition to the Fed, the Japanese Yen and Swiss Franc will be eyeing the Bank of Japan and Swiss National Bank respectively.
The commodity could see volatility if tensions between the US and Russia worsen, increasing prospects of tougher sanctions between the two key oil producers.
The US indices await the June Fed meeting for clarity on economic projections, the state of inflation and the probable path of monetary policy.
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