Forex Signals Brief for June 11: G7 Fallout and Central Banks to Shake-Up Markets
Rowan Crosby • 2 min read
Forex markets are set for one of their biggest weeks in quite some time. Over the weekend, US President Donald Trump continued to do what he does best and created more headlines. This time it was a critique of his Canadian counterpart PM Trudeau, over the ongoing trade discussions.
Looking ahead the FOMC meets once again and markets a gearing up for another rate hike, If in fact, US Federal Reserve Chairman and the FOMC decide to hike rates, it will take the US up to the 2% mark.
At the same time, much of the attention will be on the ECB. ECB President Mario Draghi is now widely tipped to be announcing an end to QE. Traders have been waiting for this day for many months and it’s sure to give the EUR/USD a spark.
And let’s not forget that as we speak, US President Trump is headed to Singapore to meet with North Korean Leader Kim Jong Un. In what is sure to keep markets on edge until Tuesday.
Forex Signal Update
The FX Leaders team had a massive week and managed to hit 16 winning signals with only the 4 losers. It was a huge result with a very tidy 80% strike rate. The economic data was thin last week and the boys traded the technicals to perfection.
Bitcoin – BTC has fallen off a cliff since Friday and we are now sub-7000 once again. This might be a buy but we certainly aren’t looking to catch a falling knife. Price is currently testing support.
DAX– It will be interesting to see if stock markets shrug off the G7 saga, so the European open will be important on Monday.
NZD/USD – Active Signal
The uptrend in the Kiwi has been decent in the last week or so. Our signal is in the green and tracking along well. Further USD weakness on Monday is exactly what we’re looking for as markets absorb the fallout from the trade wars. The profit target is at 0.7064.