- CA housing starts: 200K vs. 193K expected and 199K previous
- BRC retail sales monitor: -0.3% vs. 0.9% growth expected and 0.8% decline last month
- AU NAB business confidence and house price index on tap
Currency price action was muted during the US forex trading session as a lack of major reports limited volatility.
The dollar slowly ticked higher against its counterparts and erased some of last Friday’s losses. EUR/USD slipped by another 7 pips to 1.3385 while USD/JPY climbed to its 102.19 intraday high. USD/CHF also traded near its intraday highs while AUD/USD and NZD/USD remained near their intraday lows.
Loonie bulls also did a great job at erasing last Friday’s losses. If you recall, the comdoll suffered across the board after Canada released a surprisingly weaker-than-expected jobs data. Thanks to a strong housing starts reading, USD/CAD fell by 42 pips to 1.0920, EUR/CAD dropped by 65 pips to 1.4616, and CAD/JPY popped by 41 pips to 93.59. Yowza!
At 1:30 am GMT we’ll see Australia’s NAB business confidence and house price index reports. The former printed a reading of 8 last month, while the latter is expected to show a 1.0% growth after rising by 1.7% last month. Then, at 4:30 am GMT Japan will release its industrial production numbers. We’re unlikely to see significant volatility from the report, especially since it’s a revision of the initial reading.
In any case, keep your eyes on the reports above in case Asian session traders decide to draw volatility from them.
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!