USD/JPY - Strong Buy - Focus Currency and Technical Analysis (15-Minute Chart) June 18, 2024

EUR/USD - Sell The EUR/USD pair, after attempting to rise yesterday, has returned to a "sell" trend, testing 1.0725. Investors await Eurozone consumer inflation statistics and U.S. retail sales and industrial production data. Eurozone CPI is expected to grow 0.2% monthly and 2.6% annually, with core CPI rising 0.4% and 2.9%, respectively. France's inflation data bolstered market expectations. Germany's June ZEW Economic Sentiment Index is forecasted at 50.0 points, with the Current Conditions Index at -65.0 points. U.S. retail sales are expected to grow 0.2%, and industrial production is anticipated to accelerate by 0.3%.

GBP/USD - Strong Sell The GBP/USD pair shows a downtrend, offsetting early-week corrective gains. The pound is testing 1.2700, awaiting tomorrow's UK May inflation statistics. The annual core CPI is expected to slow from 3.9% to 3.5%, while CPI is anticipated to accelerate from 0.3% to 0.4%. UK's inflation data could impact the Bank of England's rate decision on June 20. U.S. retail sales and industrial production data are expected today, with retail sales forecasted to grow 0.2% monthly.

AUD/USD - Strong Buy The AUD/USD pair shows slight growth, recovering from the local low on June 10. Market participants are evaluating the Reserve Bank of Australia's meeting outcome, which kept rates at 4.35% as expected. Inflation remains above target, and a wait-and-see approach is adopted for risk assessment. U.S. retail sales data, expected to grow 0.2%, are also awaited.

USD/JPY - Strong Buy The USD/JPY pair is showing mixed movements around 157.90. The USD is stable but lacks strong bullish momentum. The Bank of Japan plans to keep rates at 0.00% and reduce the bond-buying program starting in July. Tomorrow's Japanese trade statistics for May are expected to show exports increasing from 8.3% to 13.0% and imports rising from 8.3% to 10.4%. U.S. retail sales data are also in focus.

Gold/USD (XAU/USD) - Strong Sell The Gold/USD pair shows mixed movements around 2320.00. Market activity is low, awaiting new catalysts. U.S. retail sales data, expected to grow 0.2%, will be released today. Comments from the Federal Reserve, which plans to keep interest rates at 5.50% and predicts a drop to 5.10% by the end of 2024, are also anticipated.