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Will the start of the week be quiet with markets in Australia, China, and Hong Kong closed?

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Will the start of the week be quiet with markets in Australia, China, and Hong Kong closed?

14.06.2021

Today's Highlights
  1. Remarks by Bank of England Governor Bailey
  2. Canada: Manufacturing Revenue

Last weekend, the three major stock indices in the U.S. market all rose. The market entered a “risk-on” phase characterized by rising stock prices, a stronger U.S. dollar, and stable interest rates. WTI crude oil has risen for three consecutive days and has now broken through the key $70.0 level, trading in the $71.18 range.Gold has fallen alongside the rise in the U.S. dollar, dropping from $1,903 to the $1,860 range.

The strong U.S. dollar is affecting various currencies, causing the GBP/USD pair to fall to around 1.410, near the lower end of its trading range.From a technical perspective, the pair found support at the 200-period SMA on the 4-hour chart once before; we need to keep a close eye on whether it will hold as support this time as well. Additionally, while yen crosses are trading near their highs, the AUD/JPY pair is gradually forming lower highs, so we should remain cautious about a potential decline just in case.

Today, Swiss producer and import prices are scheduled for 3:30 p.m., Turkey’s current account balance for 4:00 p.m., and EurozoneIndustrial Production at 6:00 PM, Canadian Manufacturing Sales at 9:30 PM, and remarks by BOE Governor Bailey at 10:00 PM. Aside from these, no other major economic indicators or key speeches are scheduled.Also, since markets in Australia, China, and Hong Kong will be closed today due to holidays, traders should pay attention to volatility in Oceania currency pairs.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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