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Forex Trading StrategiesJPY finds strength in Asia
MAJOR HEADLINES â€“ PREVIOUS SESSION
â€˘ Japanese industrial production for Jan. out at 0.4% vs. 0.3% expected.
â€˘ China's Wen says to increase flexibility of yuan. Says there will be no official revaluation.
â€˘ The Fed's Yellen said an inflation objective makes sense for the FOMC, though even without such a target inflation expectations remain well anchored. She also mentioned that the US labor market is close to full employment and that Fed should be cautious to increasing rates.
â€˘ Canadian Q4 capacity utilzation 86.3% vs. 87.1% expected
â€˘ ECB president Trichet, spoke yesterday and commented that G10 central bankers thought signs for global growth were encouraging. He said although there were no second round effects from oil as yet, there was concern that by the time they showed through it would be too late.
THEMES TO WATCH â€“ UPCOMING SESSION
Not much movement in yesterdayâ€™s trading session , likely caused by the absence of any real important data. But today with both German ZEW data, US current account and Feb retail sales we could see ranges greatly increase.
EURUSD still trading in the death zone of 1.2092-1.1825, but expect the data out today to ignite some direction. We see more of a base building on a daily chart, but still need to trading out of the zone to reconsider our general bearish view for this.
USDJPY still bullish, but struggling with offers from Japanese exporters and option related barriers selling interest to protect 119.40-50 barriers.
Note: the support/resistance levels used in the matrixâ€™s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.
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GVI Trading. Potential Price Risk Scale
Tue 31 July 2018
AA: Major, A: High, B: Medium
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade
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