Danger-off flows have been favoring the greenback today, so we would simply see one other leg decrease for NZD/USD.

Do you suppose mid-tier U.S. knowledge may hold the safe-haven greenback supported?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/USD for one more pullback after the downbeat Australian CPI launch. Remember to take a look at if it’s nonetheless play!

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

Contemporary Market Headlines & Financial Knowledge:

Fed Chairperson Powell talked about in the course of the ECB discussion board that financial coverage may not be restrictive sufficient, with a powerful labor market lifting the chances of extra hikes this yr

ECB Chairperson Lagarde additionally famous the impression of tight labor markets on wage will increase, that are additional stoking inflationary pressures

In the identical discussion board, BOE head Bailey pointed to noticeable indicators of sustained inflation within the U.Okay. financial system and that they might take all steps essential to convey it again to focus on

BOJ Governor Ueda reiterated their plans to maintain financial coverage unchanged whereas policymakers monitor the impression of upper charges on financial exercise

U.S. EIA crude oil inventories confirmed a draw of 9.6 million barrels vs. the estimated discount of 1.4 million barrels and earlier draw of three.8 million barrels

New Zealand ANZ enterprise confidence index improved from -31.1 to -18.0 in June, reflecting weaker pessimism

Folks’s Financial institution of China set yuan reference fee stronger than anticipated once more, as central financial institution appears dedicated to gradual the foreign money’s decline

Australian retail gross sales posted 0.7% month-over-month uptick in shopper spending for Could, following earlier flat studying

Value Motion Information

Overlay of USD Pairs 15-min Charts

The Dollar staged fairly a gradual climb for essentially the most a part of the day prior to this, as hawkish remarks from high central bankers in the course of the ECB discussion board saved risk-taking in verify.

AUD and NZD had been on the again foot, because the prospect of even greater borrowing prices as a consequence of cussed inflation led merchants to be cautious of slower world financial exercise and weaker demand for commodities down the road.

Earlier in at the moment’s Asian buying and selling session, the PBOC introduced its choice to set the yuan reference fee barely stronger than anticipated as soon as extra, as policymakers try to decelerate the foreign money’s slide.

Fed Chairperson Powell to testify at 6:30 am GMT
Spanish flash CPI y/y at 7:00 am GMT
U.S. ultimate GDP q/q at 12:30 pm GMT
U.S. preliminary jobless claims at 12:30 pm GMT
U.S. pending dwelling gross sales at 2:00 pm GMT
Chinese language official manufacturing and non-manufacturing PMI at 1:30 am GMT (June 30)

Use our Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

NZD/USD 15-min Foreign exchange Chart by TV

After a gradual selloff, NZD/USD is pausing from the slide to consolidate proper above the .6075 mark.

Is that this a bearish flag sample pointing to potential pattern continuation?

A break under the newest lows may set off one other decline, probably taking the pair all the way down to S1 (.6040) or S2 (.6010).

Then again, a transfer greater may result in a check of the ceiling at R1 (.6140), which occurs to line up with a former help zone.

Greenback pairs may take cues from one other speech by Fed head Powell, adopted by the discharge of the ultimate U.S. GDP studying for Q1.

As in earlier buying and selling weeks, the preliminary jobless claims determine may additionally have an effect on greenback route since this tends to have an effect on NFP expectations.

After that, higher hold an eye fixed out for the Chinese language official PMI readings within the subsequent Asian session since these figures would probably impression total market sentiment.

Use our model new Danger-On Danger-Off Meter that will help you gauge the general threat sentiment of the market and make trades that finest align with the present market circumstances! 🟥 🟩