Last week was not full of events, but we still saw decent moves in the charts of majors, S&P500, NASDAQ, oil, and crypto. The upcoming week will bring even more volatility to your favorite assets!
Market updates on June 27
- According to the fresh press of Hong Kong, the US and China agreed to have a temporary trade truce ahead of the Trump-Xi meeting on Saturday. The Australian dollar rose on the improved risk-on sentiment. On H4, AUD/USD has been trading within the upward channel. The next resistance in the focus of bulls will lie at 0.7006. After the breakout, pay attention to the 0.7022 level. From the downside, the support levels lie at 0.6987 and 0.6966.
- During the Asian trading session, the level of ANZ business confidence fell to -38.1. The New Zealand dollar reacted negatively to this news but managed to recover. At the moment, NZD/USD is consolidating between the 0.6692 and 0.6675 levels on H4. If bearish pressure increases, the break of the 0.6675 level will help bears to target the next one at 0.6655. The next key level will lie at 0.6626. From the upside, if the resistance at 0.6692 is broken, the next resistance will lie at 0.6728.
- The EUR/USD pair is awaiting the release of final GDP for the US at 15:30 MT. If the USD is not supported today, the levels in focus will be placed at 1.1375, 1.1387 and 1.1402. Otherwise, the support levels for the pair are 1.1353, 1.1344 and 1.1335.
The US will release the Philly Fed Manufacturing Index – the impactful event for the USD and thus for all the major pairs. It will be out on November 18 at 15:30 MT (GMT+2).
Hong Kong’s HK 50 index rose and the Chinese yuan edged up as traders assess the outcome of the first virtual meeting between US President Joe Biden and Chinese leader Xi Jinping.
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.