Forex Top Team

Material shortage at the beginning of the week, will the dollar strengthening last weekend be slightly adjusted?

At the beginning of the week, there were no plans to announce major economic indicators, and material was difficult. Notable events such as the ECB Board and the announcement of the US Consumer Price Index are gathering this week later this week. Until then, the market is likely to develop centered on speculation and adjustment.

The growth in the number of employees exceeded expectations in the US employment statistics last weekend, and the US financial authorities’ observations of a sharp rate hike reignited, inviting dollar buying. However, the dollar index hasn’t shown a noticeable trend in the past week. It seems that the dollar’s depreciation since mid-May has just stopped.

It seems that the determination of the full-scale flow will be left to the movement of the euro by the ECB board on Thursday and the movement of the dollar by the announcement of the US consumer price index on Friday.

Along with economic indicators, there are few events scheduled for remarks by financial officials. Before the weekend event, be aware of interviews with news agencies and sudden reports such as blogs and tweets by financial officials themselves.

Today, with no price movements, the news that only GBP will start voting for the confidence of Prime Minister Johnson by a member of the British Conservative Party at 6 pm local time has become fierce.

GBP will consider trading if there is a chance, but even in that case, we plan to keep the risk (loss cut) tight with only a small amount.

More Insights