Currency Analyst since 2010

June 19: Asian session

EUR/USD is trading just below $1.3400 after testing levels above this handle during the US session yesterday. Volatility is likely to increase ahead of the FOMC economic projectionsdue out at 18:00 GMT, followed by the Fed’s policy statement and press conference at 18:30 GMT. Euro was near a 4-month high ahead of data tomorrow forecast to show a euro-area services and factory output gauge improved.

GBP/USD slid from Monday’s high at $1.5750 to the levels around $1.5630. The Bank of England’s MPC will release its last meeting minutes at 08:30 GMT and the outgoing Governor Mervyn King will speak at 20:00 GMT.

USD/JPY is having a calm session, consolidating around 95.30. Growth attempts were capped by the 95.65 resistance. Data showed Japan’s May trade deficit contracted more than expected as exports improved significantly. The Bank of Japan’s Governor Kuroda expects the financial markets to stabilize as Japan’s economy improves. USD/CHF is consolidating around 0.9200.

AUD/USD dipped to $0.9435 in the morning trade, but later recovered to daily highs around $0.9490. Australia’s April conference board leading economic index rose by 0.3% vs. prior +0.1%. NZD/USD recovers for a second day in a row, but stays below $0.8000. Tonight watch the New Zealand Q1 GDP (growth is expected to slow). USD/CAD keeps slowly pushing higher. For now it reached 1.0240 today.

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