The U.S. markets are out right now and there aren’t tons of top-tier stories heading our means, however that doesn’t imply we received’t see volatility!
At the moment I’m having a look at AUD/CAD’s make-or-break scenario on the 1-hour chart.
Earlier than shifting on, ICYMI, I’ve listed the potential financial catalysts that you might want to be careful for this week. Examine them out earlier than you place your first trades right now!
And now for the headlines that rocked the markets within the final buying and selling periods:
Contemporary Market Headlines & Financial Information:
Enterprise NZ providers index jumped from 52.2 to 55.2 in Might
PBoC retains company and family mortgage charges regular in June
Rightmove: UK property costs rise by least since January
DeFi platform Solana votes to manage whale account in bid to keep away from liquidation ‘chaos’
Asia shares flip decrease, no dodging recession dangers
U.S. markets out on financial institution vacation
ECB President Lagarde to testify earlier than the European Parliament at 1:00 pm GMT
FOMC member Bullard to speak inflation and rates of interest at 4:45 pm GMT
RBA Gov. Lowe to speak financial coverage at 12:00 am GMT (June 21)
RBA’s assembly minutes at 1:30 am GMT (June 21)
Use our new Foreign money Warmth Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️
What to Watch: AUD/CAD
Is it me, or is AUD/CAD forming a possible Head and Shoulders sample on the 1-hour chart?
There aren’t a number of top-tier financial stories scheduled within the subsequent buying and selling periods, however from what we’ve seen in Asian session buying and selling, merchants might return to pricing in China’s COVID and progress considerations.
On the opposite facet of the commerce, crude oil costs are slowly getting again up once more after a pointy decline final week.
RBA’s assembly minutes scheduled simply after the U.S. session may make or break AUD/CAD’s chart sample.
If the Reserve Financial institution of Australia (RBA) is penciling in a tighter or extra aggressive rate of interest hike schedule, then AUD/CAD might keep its upswing and retest earlier inflection factors like .91000 or .9150.
If oil costs leap again as much as final week’s highs, although, or if merchants are unimpressed with RBA’s tightening plans, then AUD/CAD might flip decrease from .9050 and head for the .9000 psychological deal with close to the Head and Shoulders “neckline” and the 100 and 200 SMAs on the 1-hour time-frame.