I’ve got a list of market themes that you should watch over!
Lower tier domestic reports
- Economy Watchers sentiment (June 8, 5:00 am GMT) to improve from 7.9 to 12.6?
- Average cash earnings (June 8, 11:30 pm GMT) expected to drop by 1.0% from a year ago in April
- Core machinery orders (June 9, 11:50 pm GMT) could drop by another 7.5% (from -0.4%)
- Annual PPI (June 9, 11:50 pm GMT) to weaken from -2.3% to -2.4%? Monthly PPI seen at -0.3% (from -1.5%)
- BSI manufacturing index (June 10, 11:50 pm GMT) last printed at -17.2 in Q1 2020
- Final industrial production (June 12, 4:30 am GMT) seen unchanged at -9.1% in April
Market risk appetite
- COVID-related updates (stimulus, reopening of economies, number of deaths and cases) will continue to affect demand for safe havens like the yen
- The Fed’s policy statement can influence dollar demand and risk trading
- After last week’s strong moves, watch out for retracement or reversal possibilities across major yen crosses
- RSI considers the yen “oversold” against all of its major counterparts except for its fellow safe havens
- If you’re looking for a currency to trade the yen against, consider AUD, NZD, and GBP, which brought the most volatility to the yen in the last seven days
Missed last week’s price action? Read JPY’s price recap for June 1 – 5!