We don’t have a number of top-tier U.S. information on faucet in the present day, so value motion will probably rely on danger sentiment.

Will USD/JPY discover a cause to bounce from short-term technical assist within the subsequent buying and selling classes?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/USD’s channel resistance forward of the RBA assembly minutes launch. You’ll want to take a look at if it’s nonetheless a very good play!

And now for the headlines that rocked the markets within the final buying and selling classes:

Recent Market Headlines & Financial Knowledge:

NAHB: U.S. homebuilder sentiment jumped from 50 to an 11-month excessive of 55 in June as restricted provide continued to encourage new development

Westpac: New Zealand client sentiment index up from 77.7 to 83.1 in June however households stay deeply pessimistic amidst excessive dwelling prices and mortgage charges

PBOC reduce its one-year Mortgage Prime Fee (3.65% to three.55%) and five-year LPR (4.3% to 4.2%) on high of final week’s stimulus measures to assist spur the economic system

RBA assembly minutes confirmed price hike arguments had been “finely balanced,” as members weighed inflation dangers, tight labor market, and rising dwelling costs

Value Motion Information

Overlay of AUD Pairs 15-min

A one-two punch from the PBOC and RBA satisfied merchants to drop the Australian greenback prefer it was scorching in the present day.

First, the RBA’s assembly minutes famous that arguments for and towards a June price hike had been “finely balanced” and never decisively hawkish as many price hike followers predicted earlier this month.

In the meantime, markets had been underwhelmed primarily by PBOC chopping two of its benchmark rates of interest by 10 foundation factors when not less than some merchants anticipated greater stimulus measures from China’s central financial institution.

The Chinese language economy-related AUD was dumped throughout the board and traded in tight ranges up till just a few hours into the European session.

U.S. constructing permits and housing begins at 12:30 pm GMT
BOJ’s assembly minutes at 11:50 pm GMT
Australia’s MI main index at 12:30 am GMT (June 21)

Use our new Foreign money Warmth Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

USD/JPY 15-minute Foreign exchange Chart by TV

Uncle Sam received’t print top-tier financial experiences in the present day, however that most likely received’t cease merchants from seeing USD/JPY’s vary assist.

That’s proper! The pair is poppin’ up lengthy wicks across the 141.50 zone, which traces up with an inflection level that’s been legitimate since final week.

In reality, 141.50 can also be close to the underside of a visual vary AND is close to the S1 (141.60) of in the present day’s Customary Pivot Factors.

A scarcity of knowledge releases might flip the markets’ focus again to the better-than-expected U.S. information we noticed final week.

Some merchants might additionally value of their hawkish sentiments forward of Fed Governor Powell’s testimony later this week.

USD/JPY, which has already dropped by nearly half of its each day common volatility, might flip larger and retest areas of curiosity just like the 141.85 mid-range and Pivot Level (141.80) ranges.

The pair might even hit its intraweek highs close to 142.20 if there’s sufficient momentum!