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!
🌐 MORNING MEETING - JUNE 30
🔴 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.
🔴 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.
🔴 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.
🔴 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%)
🔴 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!
🌐 MORNING MEETING - JUNE 30
🔴 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.
🔴 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%)
🔴 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).
