π FX MORNING MEETING: Let's prepare for the trading day June 30
Hi traders, here is our FX Morning Meeting for June 30.
This market overview will help you find market opportunities where they actually exist ("Trades of the Day section"), based on a number of fundamental, intermarket, and sentiment signals.
Leave us a comment what you want to trade today!
π MORNING MEETING - JUNE 30
π΄ GLOBAL MARKETS (main chart)
Morning traders, global markets remain in a cautious mode ahead of the US NFP release and holiday ("event risks").
This has supported safe havens so far and put selling pressure on risk assets.
Asian markets closed mixed/unchanged, while European markets entered a strong downtrend this morning.
π΄ US DOLLAR INDEX
Looking at the USDx, the currency traded higher today despite slightly lower US yields, likely fueled by risk-off flows. The 92.40 resistance remains a strong obstacle to the upside, but we could see additional strength in the currency during the day.
π΄ CURRENCY STRENGTH
Our currency strength index shows a typical risk-off pattern: JPY and USD are among the strongest (together with GBP), while CAD, AUD, and NZD are the weakest currencies so far.
π΄ ECONOMIC CALENDAR
The economic calendar is packed with reports today, although few of them will have market-moving potential.
China PMIs came in weaker than expected (negative for AUD).
EUR CPI Flash Estimate (an early reading of eurozone inflation) matched forecasts (1.9%).
Upcoming events to follow:
- US ADP NFP Change (expected 555k)
- US Chicago PMI (expected 70.2)
- US Pending Home Sales (an important leading indicator, expected -1.1%)
π΄ TRADES OF THE DAY (JUNE 30)
- We hold to our short AUD/USD and AUD/JPY trades (Take-Profit hit, remaining position at Breakeven)
- Today's trade setups are similar to yesterday's: Long safe-havens (USD, JPY) and short high-beta risk currencies (AUD, NZD, CAD).
This market overview will help you find market opportunities where they actually exist ("Trades of the Day section"), based on a number of fundamental, intermarket, and sentiment signals.
Leave us a comment what you want to trade today!
π MORNING MEETING - JUNE 30
π΄ GLOBAL MARKETS (main chart)
Morning traders, global markets remain in a cautious mode ahead of the US NFP release and holiday ("event risks").
This has supported safe havens so far and put selling pressure on risk assets.
Asian markets closed mixed/unchanged, while European markets entered a strong downtrend this morning.
Looking at the USDx, the currency traded higher today despite slightly lower US yields, likely fueled by risk-off flows. The 92.40 resistance remains a strong obstacle to the upside, but we could see additional strength in the currency during the day.
Our currency strength index shows a typical risk-off pattern: JPY and USD are among the strongest (together with GBP), while CAD, AUD, and NZD are the weakest currencies so far.
π΄ ECONOMIC CALENDAR
The economic calendar is packed with reports today, although few of them will have market-moving potential.
China PMIs came in weaker than expected (negative for AUD).
EUR CPI Flash Estimate (an early reading of eurozone inflation) matched forecasts (1.9%).
Upcoming events to follow:
- US ADP NFP Change (expected 555k)
- US Chicago PMI (expected 70.2)
- US Pending Home Sales (an important leading indicator, expected -1.1%)
π΄ TRADES OF THE DAY (JUNE 30)
- We hold to our short AUD/USD and AUD/JPY trades (Take-Profit hit, remaining position at Breakeven)
- Today's trade setups are similar to yesterday's: Long safe-havens (USD, JPY) and short high-beta risk currencies (AUD, NZD, CAD).
