Important financial markets data on 18 June 2019
10:00 EU/EUR ECB-President Mario Draghi speaks
11:00 EU/EUR ZEW Economic Sentiment Germany
11:00 EU/EUR CPI (YoY)
14:30 USA/USD Building Permits (May)
16:00 EU/EUR ECB-President Mario Draghi speaks
16:00 UK/GBP BoE Gouverneur Carney speaks
Analysis EUR/USD
Before tomorrow's Fed interest rate decision, the forex market is reluctant and the pair continues to move in a relatively narrow range. The USD 1.12 mark has been stable so far, however, the two speeches today by Mario Draghi at 10:00 (CEST) and 16:00 (CEST), as well as the ZEW and CPI data at 11:00 could provide an impulse. This will be especially true if ECB President Mario reiterates the European Central Bank's willingness to take further stimulus measures if necessary. If the data at 11:00 is worse than expected, the resistance at 1.12 could break with a first target at 1.1185. With positive impulses, a further upward movement is not expected until a stable rise above yesterday's high of 1.1246 can be seen.
Analysis AUD/USD
The Australian Dollar has now been falling for 7 trading days in a row and has reached its lowest level since 2015. The AUD weakness is partly due to the trade conflict between the US and China, as China is one of the most important buyers of Australian raw materials. The pair already dropped 10 pips in the Asian session, and if the bearish trend continues today, the first target could be 0.6825. Looking higher, the resistance at 0.6856 last night should be breached before targeting 0.6875.
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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 trade 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 active trading or get independent advice before you invest your own money and use only money to invest that you can lose in the worst case