Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Yen declines on North Korea events and Japan politics eyed for snap polls
On Monday, the Japanese yen held weaker in Asia following reports that Prime Minister Shinzo Abe might call a snap election for October for the purpose of building on support for his handling of tough tensions with the isolated regime of North Korea.
The currency pair USD/JPY hit 111.20, jumping 0.34%, AUD/USD reached 0.8017, leaping 0.16%.
Additionally, on Sunday US Ambassador to the United Nations Nikki Haley told that the UN Security Council has already run out of options on taming North Korea's nuclear program and America might have to rely on the Pentagon in this case.
The U.S. dollar index, estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, demonstrated 91.65.
China announced that house prices data for August went up 8.3% versus a 9.7% leap observed in July.
Overnight, the greenback declined versus a basket of key currencies following retail sales data, which suddenly undershot hopes in August. At the same time the British pound rallied to its highest value since June the previous year contributing to downside momentum in the US currency.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.