OPEC Meeting: the center of attention for oil, USD and CAD traders

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Summary

After temporarily testing above the daily Ichimoku cloud, the USD/JPY pair dropped on FOMC minutes release and opened today’s Sydney session inside the cloud and below the pivot level of 111.60. With this, our support levels remain at 109.41 and 107.32. The OPEC Meeting is going to be the center of attention for oil, USD and CAD traders. Meanwhile, the UK will released their Q1 GDP at 8:30 AM GMT and it is expected to remain the same. The US Advance Goods Trade Balance (APR) will be out next at 12:30 PM GMT the same time as their weekly jobs report. During the next day’s Asian session, Japan’s National Consumer Price Index (YoY) (APR) will be out at 11:30 PM GMT which could shake the USD/JPY pair furthermore. Thanks for watching and I wish you the best of luck making pips by trading forex.


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