KEY EVENTS TO WATCH ON TUESDAY
AUD: RBA Assist Gov Kent Speaks (00:00 GMT), Monetary Policy Meeting Minutes (01:30 GMT)
JPY: BOJ Gov Kuroda Speaks (05:30 GMT)
GBP: CPI (08:30 GMT)
EUR: German & Euro Zone’s ZEW Economic Sentiment (09:00 GMT)
CAD: Manufacturing Sales (12:30 GMT), BOC Gov Poloz Speaks (16:45 GMT)
USD: PPI (12:30 GMT)
EUR/USD showed a series of higher lows. However, the bears are quite persistent, and the pair once again turned down from the 200-hour MA. Euro met resistance of the Ichimoku Cloud on H4 and may test the lower Bollinger band at $1.2890. Below this level euro will be vulnerable for a slide to $1.2850 – this is our base scenario. Forecasts for the euro zone’s data due tomorrow are negative. A return above $1.2962 is needed to switch the outlook to bullish with $1.3015 in sight.
GBP/USD managed to close the last week’s gap, but faced resistance at $1.6275 on Monday. Market participants remain nervous ahead of the Scotland’s Independence referendum on Thursday. Don’t miss the inflation data on Tuesday: UK annualized CPI growth is forecasted to slow from 1.6% to 1.5%. Negative surprise could resume the GBP selloff. However, hawkish BOE monetary policy minutes on Wednesday could render some support to the currency.
USD/JPY consolidates slightly below the Friday’s 107.30 high. The BOJ Governor Kuroda will hold a speech on Tuesday. However, this week trader’s attention will be glued to the FOMC meeting on Wednesday – disappointing tone of the Fed will trigger a strong bearish correction. Support lies at 106.60, 106.00 and 105.70.
AUD/USD opened today with a 30-pip gap down on poor data from China and Australia, but then moved higher after finding support in the $0.9000 area. Tomorrow Aussie will trade under impact of the RBA minutes. We view the downtrend as strong, but see some room for correction. Resistance is at $0.9060, $0.9100 ahead of $0.9180. The next downside target is at $0.8950.
AUD: RBA Assist Gov Kent Speaks (00:00 GMT), Monetary Policy Meeting Minutes (01:30 GMT)
JPY: BOJ Gov Kuroda Speaks (05:30 GMT)
GBP: CPI (08:30 GMT)
EUR: German & Euro Zone’s ZEW Economic Sentiment (09:00 GMT)
CAD: Manufacturing Sales (12:30 GMT), BOC Gov Poloz Speaks (16:45 GMT)
USD: PPI (12:30 GMT)
EUR/USD showed a series of higher lows. However, the bears are quite persistent, and the pair once again turned down from the 200-hour MA. Euro met resistance of the Ichimoku Cloud on H4 and may test the lower Bollinger band at $1.2890. Below this level euro will be vulnerable for a slide to $1.2850 – this is our base scenario. Forecasts for the euro zone’s data due tomorrow are negative. A return above $1.2962 is needed to switch the outlook to bullish with $1.3015 in sight.
GBP/USD managed to close the last week’s gap, but faced resistance at $1.6275 on Monday. Market participants remain nervous ahead of the Scotland’s Independence referendum on Thursday. Don’t miss the inflation data on Tuesday: UK annualized CPI growth is forecasted to slow from 1.6% to 1.5%. Negative surprise could resume the GBP selloff. However, hawkish BOE monetary policy minutes on Wednesday could render some support to the currency.
USD/JPY consolidates slightly below the Friday’s 107.30 high. The BOJ Governor Kuroda will hold a speech on Tuesday. However, this week trader’s attention will be glued to the FOMC meeting on Wednesday – disappointing tone of the Fed will trigger a strong bearish correction. Support lies at 106.60, 106.00 and 105.70.
AUD/USD opened today with a 30-pip gap down on poor data from China and Australia, but then moved higher after finding support in the $0.9000 area. Tomorrow Aussie will trade under impact of the RBA minutes. We view the downtrend as strong, but see some room for correction. Resistance is at $0.9060, $0.9100 ahead of $0.9180. The next downside target is at $0.8950.
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.