USD/JPY - Strong Buy - Highlight Currency and Technical Analysis (15-Minute Chart) - June 26, 2024
EUR/USD - Sell
The EUR/USD pair continues to trade around 1.0700. Market activity remains subdued as investors await new catalysts. Tomorrow, reports on consumer and business confidence in the Eurozone will be released, potentially influencing the direction of monetary policy. Additionally, the US Q1 GDP and durable goods orders data are in focus. On Friday, the US Federal Reserve's key inflation indicator, the Personal Consumption Expenditures Price Index (PCE), will be released.
GBP/USD - Sell
The GBP/USD pair is showing sideways movement around 1.2685. The market is quiet, with investors focusing on macroeconomic data from the US. The S&P/Case-Shiller Home Price Index increased by 0.2% in April, while the Richmond Fed Manufacturing Index saw a sharp decline in June. Tomorrow, the Financial Stability Report and the Bank of England's minutes will be released, possibly providing insights into future monetary policy.
AUD/USD - Sell
The AUD/USD pair is attempting to break through 0.6680, reaching the highest level since June 12. This is supported by an improvement in Australia's consumer confidence index. Meanwhile, US macroeconomic data suggests the Federal Reserve may adjust interest rates in September. Later this week, the PCE Price Index will be released, providing crucial data for assessing inflation trends.
USD/JPY - Strong Buy
The USD/JPY pair continues to trade around 159.80, reaching the highest level since April 29. Although the Bank of Japan might intervene again, the current focus is on the Federal Reserve's timing for rate cuts. Japan's recent economic data has been weak, with upcoming retail sales and inflation indicators being closely watched.
XAU/USD (Gold/USD) - Strong Sell
The XAU/USD pair is trading around 2315.00, the lowest level since June 18. This is influenced by hints from Federal Reserve members about the possibility of interest rate hikes. On Friday, the PCE Price Index will be released, potentially impacting future interest rate trends.
