With markets in Australia, China, and Hong Kong closed, will the start of the week be quiet?
14.06.2021
- Remarks by Bank of England Governor Bailey
- 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 fell 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, and the GBP/USD pair has fallen 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’ll be watching closely to see if it holds as support this time as well. Additionally, while yen crosses are trading near their highs, the AUD/JPY pair is gradually forming lower highs among them, so we should remain cautious of 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 9:30 PM Canadian Manufacturing Sales, and at 10:00 PM remarks by BOE Governor Bailey. 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.
