Yesterday we have seen a correction in several currency pairs, after the heavy impact of the US employment data from the last Friday. Today we will get also less important data from the global economy, what could result in a ranging market in many crosses, with some good trading opportunities.

EUR/USD EU Finance Minsters could give an impulse

Like yesterday, not many important data will be published today. One impulse could come from the Finance Ministers of the euro group, who will end there meeting today, and from the  United States the export / import index. In the meantime the market could range between 1.073 and 1.080, where some trading opportunities could be found.

GBP/USD waiting for Wednesday

From the UK no figures are coming, but the British pound is still struggling with the low inflation and a possible exit from the EU. Yesterday the GBP could gain some ground against the greenback by the typical correction after a big drop, like it happened on Friday. In light of the probably coming rate hike by the Fed in the next month, the downtrend should be stable till the average earnings index and the claimant count change are published tomorrow, and the target today could be at 1,506.

USD/JPY towards to 123.85

Yesterday the US dollar could further gain against the yen to 123.56, but dropped again in the afternoon. Since there are no signs of an improving Japanese economy and no data will be published today, the uptrend in this pair could continue with the target at 123.80.

Risk disclaimer:
The opinions of the author to market behaviour does not constitute a solicitation to buy or sell any financial products, but are merely a personal opinion. When you go into the trade in leveraged financial products, you must be aware that a loss up to the amount of your deposit is possible, and in addition can also be an obligation to arise. Make yourself familiar with the active trade or get independent advice before you invest your own money and use only invest money that you can get over the worst case.