MonsunAsia

MonsunAsia Updated 

🇳🇿NZD - Strong Bearish 1️⃣ The surge in Delta variant COVID-19 infection cases in the Asian region is pressing the prospects for economic recovery. 2️⃣ Gloomy market targets are causing investors to stay away from high-beta currencies like the NZD. 🇯🇵 JPY - Strong Bullish 1️⃣ A risk-off market environment supports demand for safe-haven currencies such as the...

MonsunAsia

AUD - Bearish 1️⃣ Victoria has announced to extend its lockdowns. 2️⃣ AUD depressed amid new US-China tensions after the Biden administration issued sanctions related to Hong Kong. 3️⃣ The risk-off environment in the market usually pressure on high-beta currencies such as AUD. 4️⃣ Australian retail sales are expected to decline following the lockdowns in the...

MonsunAsia Updated 

EURO - Bearish 1️⃣ President Christine Lagarde of the European Central Bank said the July 22 meeting will include new forward guidance and ruled out an early withdrawal from the ECB's bond-buying program. 2️⃣ Concerns about the Delta variant's spread have grown as the summer holiday season approaches. 3️⃣ Eurozone industrial production fell 1% in May 2021. 4️⃣ The...

MonsunAsia

CAD - Bearish 1️⃣ The gloomy market mood followed by the decline in crude oil prices depressed the CAD currency. 2️⃣ Bank of Canada Governor Tiff Macklem told the Canadian Press that the rise in inflation is temporary in nature. JPY - Bullish 1️⃣ The global market is expected to remain risky following market concerns over the increase in Coronavirus cases as well...

MonsunAsia

CAD - Bullish 1️⃣ The BOC is expected to announce the next tapering of the QE program to CAD 2 billion a week from CAD 3 billion a week. 2️⃣ The rapid vaccination program undertaken over the past few months has rapidly boosted the commodity market and the job market, reflecting a good economic recovery. 3️⃣ The recovery in oil prices helped the rise on the...

MonsunAsia Updated 

GBP - Bullish 1️⃣ In June, the UK inflation rate rose to 2.5% from 2.1% in the previous month, and exceeded market expectations of 2.2%. 2️⃣ UK Prime Minister Boris Johnson announced plans to end the COVID-19 restrictions in the UK effective 19 July. 3️⃣UK employment data for May is expected to be positive on the back of strong employment growth in the...

MonsunAsia Updated 

AUD - Bearish 1️⃣ U.S. President Joe Biden is likely to issue warnings as well as warnings to U.S. companies about the increased risks of operating in Hong Kong and also impose more sanctions. 2️⃣ Employment data in Australia on Thursday is expected to be weak as the employment component in the manufacturing and services PMI shows a decline. 3️⃣ The increase in...

MonsunAsia

What is Market Structure? Market Structure is the technical structure of any market that appears over time as one primary position holds the majority of the strength (buyers or sellers). Market structure is a key technical understanding to be able to identify what the market has been doing in the past and what it has the potential to do in the future. Market...

MonsunAsia

GBP - Bearish 1️⃣ The Bank of England kept its interest rate unchanged at 0.1% in its June 2021 meeting with an 8-1 majority voting to leave its bond-buying program unchanged, similar to market forecasts. 2️⃣ Britain reported an increase in Covid-19 cases. USD - Bullish 1️⃣ Concerns about the spread of the highly contagious Delta Covid-19 variant continue to...

MonsunAsia Updated 

EURO - Bearish 1️⃣ The ECB President Christine Lagarde said that the economic recovery remained fragile despite upbeat economic readings. 2️⃣ The European Central Bank is likely to remain cautious about changing monetary policy until more solid economic data shows improving conditions. 3️⃣ German factory orders were weaker than expected results in the Euro...

MonsunAsia Updated 

CAD - Strong Bullish 1️⃣ CAD has been supported by rising crude oil prices. 2️⃣ The Bank of Canada has been one of the first developed country banks to announce a tapering in its QE program as the bank adapts to improving domestic economic conditions. 3️⃣ Canadian IVEY PMI and employment data will be released later this week and expected to increase higher. JPY...

MonsunAsia Updated 

GBP - Weak Bearish 1️⃣ The Bank of England kept its interest rate unchanged at 0.1% in its June 2021 meeting with an 8-1 majority voting to leave its bond-buying program unchanged, similar to market forecasts. 2️⃣ Coronavirus cases in UK rise to 24,248 with 15 more deaths have been reported in the country. CAD - Strong Bullish 1️⃣ CAD has been supported by rising...

MonsunAsia Updated 

EURO - Bullish 1️⃣ ECB President Lagarde told the European Parliament that the prospect of better global demand and a faster-than-forecast increase in consumer spending could support economic recovery in the European zone. 2️⃣ The present PMI outlook was better than expected in Germany, France, and the European zone. GBP - Bearish 1️⃣ The Bank of England kept its...

MonsunAsia Updated 

USD - Bullish 1️⃣ Consumer confidence data and ADP employment reports come in positive ahead of NFP employment data tomorrow night. 2️⃣ The Fed's hawkish comments have prompted positive betting on the greenback. The Federal Reserve boosted its inflation estimates for this year and brought forward the date when it will raise interest rates. CHF - Bearish 1️⃣ The...

MonsunAsia

USD - Strong Bullish 1️⃣ Investors turned to safe-haven assets amid concerns about a surge in cases of new coronavirus infections. CHF - Weak Bearish 1️⃣ Despite the risk-off environment in the market, the CHF failed to benefit, but traded higher against commodity currencies. ===== Technical ===== We are looking to buy the USDCHF at the support of 0.92000 +...

MonsunAsia Updated 

USD - BEARISH 1️⃣ Federal Reserve head Jerome Powell stressed that temporary inflation fears are not too strong to support the central bank’s idea of raising interest rates by 2023. 2️⃣ Some FOMC members reiterated that the current high inflation is temporary and rising interest rates still seem distant. CAD - BULLISH 1️⃣ Confidence among Canadian exporters has...

MonsunAsia Updated 

NZD - BULLISH 1️⃣ New Zealand’s GDP rose 1.6% quarter-on-quarter in the first quarter of 2021 after a revised 1.0% contraction in the previous period and against market expectations for a 0.5% surge. It is the biggest expansion since the 3rd quarter of 2019. 2️⃣ As a high-beta currency, risk-on market sentiment can give the NZD an advantage. 3️⃣ The Reserve Bank...

MonsunAsia Updated 

CAD - Bullish 1️⃣ Confidence among Canadian exporters has soared to its highest level in more than 20 years following the continued global economic recovery. 2️⃣ Global crude oil prices traded well following a decline in inventories and market sentiment remained optimistic due to extensive vaccination programs in Europe and the United States. JPY - Bearish 1️⃣...