Hello traders
The Euro is showing signs of bottoming out at the weekly support levels against
USD, JPY, CAD and AUD.
MOST IMPORTANT:
USD:
While King Dollar is clearly reigning after the FOMC indication not to expect rate cuts any time soon and solid economic data, the "What If" factor is NFP tomorrow and to a minor extent month end settling. If the NFP print comes in significantly lower than expectations, the Euro may pop higher. If the print is above expectations, still take a moment to check where the most jobs are. if it is in hospitality and leisure, it is probably summer hiring.
JPY: The BoJ kept rates unchanged.
CAD: The loonie is under siege with Trump's renewed 35% tariffs announced today. However, IF Russian sanctions against oil sales come to fruition, the CAD may strengthen. Watch Oil prices.
AUD: CPI came in below expectations. PPI has just printed lower too.
The Euro Zone's unemployment rate ticked down and German CPI ticked higher. The impact of tariffs seems to be priced in for the moment.
The biggest "What If" ?
The decision of the Federal Appeals Court if the International Trade Court verdict is upheld. In that case, it is all but guaranteed that it will reach the Supreme Court. IF the Supreme Court declares it unlawful, the USD MAY drop like a lead balloon.
The risk assets in these charts are all at right around the weekly 20 SMA.
tradingview.com/chart/GtpsVqQt/
Just some food for thought. Let me know what your thoughts are.
The Euro is showing signs of bottoming out at the weekly support levels against
USD, JPY, CAD and AUD.
MOST IMPORTANT:
USD:
While King Dollar is clearly reigning after the FOMC indication not to expect rate cuts any time soon and solid economic data, the "What If" factor is NFP tomorrow and to a minor extent month end settling. If the NFP print comes in significantly lower than expectations, the Euro may pop higher. If the print is above expectations, still take a moment to check where the most jobs are. if it is in hospitality and leisure, it is probably summer hiring.
JPY: The BoJ kept rates unchanged.
CAD: The loonie is under siege with Trump's renewed 35% tariffs announced today. However, IF Russian sanctions against oil sales come to fruition, the CAD may strengthen. Watch Oil prices.
AUD: CPI came in below expectations. PPI has just printed lower too.
The Euro Zone's unemployment rate ticked down and German CPI ticked higher. The impact of tariffs seems to be priced in for the moment.
The biggest "What If" ?
The decision of the Federal Appeals Court if the International Trade Court verdict is upheld. In that case, it is all but guaranteed that it will reach the Supreme Court. IF the Supreme Court declares it unlawful, the USD MAY drop like a lead balloon.
The risk assets in these charts are all at right around the weekly 20 SMA.
tradingview.com/chart/GtpsVqQt/
Just some food for thought. Let me know what your thoughts are.
Trade active
Clarification: I have just entered into EUR/USD long at 1.1409. Stop at 1.1360Still monitoring EUR/JPY for a long opportunity
My long EUR/AUD entry order was triggered at 1.7679. Thank you pejman_zwin for pointing me in that direction.
EUR/CAD long at 1.5825 with stop at 1.5745. I closed my previous long this past Sunday.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.