Good morning! Looking at some pairs this week.
We had the NFP release for the US markets on the 7th of June and had many volatile market movements. This is good for as we need movements to trade, the markets have now stabilized and seems be setting up for some smooth sailing.
Looking at few pair to take advantage of. GBPUSD, GBPJPY, NZDUSD and NZDJPY. We may be in for some trading where US Dollar and Japanese Yen could be in Syn or on the other hand British Pound and New Zealand Yen will do the talking! We will have to wait and see.
We have already had some bearish sentiments on Monday for British Pound with the Industrial and Manufacturing Production economic indicator releases showing a decline. Also the speech release by Michael Saunders from the Bank of England Monitory Policy Committee did not sound too promising for GBP with the Brexit looming around the corner.
With regards to Japanese Yen the Machinery Orders economic indicator came in higher showing a strong economy for the immediate future.
US Dollar is so far looking to be on the neutral side with the Producer Prices sidelining, however JOLTS Job Openings is showing some confidence but this is a low impact indicator.
With all this in mind we will be looking at below indicators which are yet to come out today and tomorrow. All in all we are wanting a strong sentiment for US Dollar and Japanese Yen while at the same time we would like for the New Zealand and British economies to show bearish sentiments.
Indicators to keep an eye out for near future.
Consumer Price Index
Monthly Budget Statements
Initial and Continuing Jobless Claims
Foreign Investment in Japan Stocks
New Zealand Economy
Business NZ PMI
Ricks Housing Price Balance
Possible entry area 1.27400
Possible entry area 138.200
Possible entry area 0.66100
Possible entry area 71.600