Forex Signals Brief for Jun 26: Markets Continue With Choppy Price Action
Rowan Crosby • 2 min read
US Market Wrap
It was another choppy session on global markets as the daily back and forth continued for another day.
There were some mixed headline data out on Thursday, which did see a positive result for Core Durable Orders, which came in higher than expected. Unfortunately, the same couldn’t be said for jobless claims. Once again the number of claims came in around that 1.5 million mark and it is struggling to inch lower.
At the same time, there was more bad news regarding the increases in new COVID-19 cases in the US and at the moment, that is certainly weighing on sentiment.
The Data Agenda
As we round out the trading week, the data will slow down to a trickle. In fact, there is not top-tier data releases of note today, which will mean we might well be in for another choppy session.
ECB President Christine Lagarde is due to speak the Northern Light Online Summit organised by the European Business Leaders’ Convention.
At this stage, this is not slated to be a market-moving event, however, we must keep watch for any comments surrounding the outlook for the Eurozone or potential changes to monetary policy.
In the US session, there is some second-tier data on personal spending, but that likely won’t impact the Greenback much at all.
Forex Signal Update
The FX Leaders Team hit 1 winner from 2 trades yesterday, for a 50% strike rate in what was a quiet session.
Make sure you follow our live signals as we look to end the week in strong fashion.
Gold – Pending Signal
GOLD has been holding steady above $1760 and consolidating. This could be a sign of buyers soaking up supply, which is a bullish sign. We are hunting a long position.
USD/JPY – Active Signal
The USD/JPY is still rotating around the 107.00 level, but there is clearly interest in the JPY. We are short, looking for that trend to continue.
BTC managed to drop the $9,250 level yesterday, with price falling all the way to $9,000.
At this stage, the buyers are clearly resilient, but if the risk-off trade gains steam headed into the weekend, this support level will be under serious threat.