Forex Signals Brief for June 29: Consumer Confidence in Focus
Markets opened the new trading week in the green as we look ahead to the latest consumer confidence data later today.
US Wrap
Markets opened the new trading week in the green as we look ahead to the latest consumer confidence data later today.
The NASDAQ surged higher yesterday with very little by of market-moving news. The USD appears to be grinding its way higher after finding good support over the past week.
We’ve been watching the precious metals space closely lately, but there wasn’t much to report on that front either even with the start of Basel III.
The Data Agenda
The main data of interest today will likely be US consumer confidence with data very thin early in the week.
The expectation is that confidence will continue to rise in June and that is ever-increasing.
While we continue to look to the US jobs data on Friday and the other jobs readings that will begin on Wednesday with the ADP number.
Forex Signal Update
The FX Leaders Team had a quiet session, closing the one signal in the NZD/USD.
XRP – Active Signal
XRP has been slowly pushing away from the 60 cent level as the altcoins have been strong over the past 24 hours. However, the downtrend remains intact for the time being.
EUR/USD – Active Signal
The EUR/USD is falling away, thanks largely to a stronger USD.
Cryptocurrency Update
BTC has been holding under the $35,000 level but as yet can’t seem to make any headways.
Overall, we are seeing some strength, but if the buyers can’t hold this level, then I still feel we could see another sell down.
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