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It’s the last full trading week for the month!

Think you’re ready to crush dollar trading?

Here are market themes you need to know about.

Lower-tier economic releases

  • Existing home sales (June 22, 2:00 pm GMT) to dip from 4.33M to 4.1M in May?
  • Markit manufacturing PMI (June 23, 1:45 pm GMT) expected to jump from 39.8 to 47.8
  • Markit services PMI could improve from 37.5 to 44.8 in June
  • New home sales (June 23, 2:00 pm GMT) seen at 630K (from 623K)
  • Durable goods orders (June 25, 12:30 pm GMT) to rocket from -17.7% to 12.6%
  • Final GDP (June 26, 12:30 pm GMT) likely to maintain -5.0% reading for Q1 2020
  • Natural gas storage (June 25, 2:30 pm GMT) moved oil prices last week
  • Core PCE price index (June 26, 12:30 pm GMT) seen at 0.1% from -0.4% print in April
  • Personal spending (June 26, 12:30 pm GMT) could jump from -13.6% to 5.1% in May

General dollar demand

  • As a safe haven currency, the dollar gains popularity when traders don’t feel like taking risks
  • Updates on coronavirus cases and the chances of lockdown measures being imposed can affect dollar demand
  • Vaccine and stimulus news can also influence risk-taking in the markets
  • No FOMC member speech scheduled this week, which could turn investors’ focus on U.S. fundamentals

Technical snapshot

  • Stochastic considers the dollar “overbought” against the pound
  • The dollar is “oversold” against the yen
  • USD is on the upper half of the oscillator against AUD, EUR, and CAD on the daily time frame
USD Forex Pairs Stochastic from MarketMilk
USD Forex Pairs Stochastic from MarketMilk
  • The dollar is seeing short AND long-term bearish trends against the Aussie, Kiwi, franc, and yen
  • It’s bullish against the pound, however
  • Watch out for retracement or reversal opportunities GBP/USD, EUR/USD, and USD/CAD
USD Forex Pairs SMAs from MarketMilk
USD Forex Pairs SMAs from MarketMilk
  • USD was most volatile against AUD, NZD, GBP, EUR, and CAD, in the last seven AND thirty days
USD Forex Pairs Volatility from MarketMilk
USD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read USD’s price recap for June 15 – 19!