#OPINIONLEADER# #USDollarIndex#
By Scott Andrews
Morning market update 15 07 2021:
USDCAD held up last night even with the increased tapering announced by the Bank of Canada and Jerome Powell testified and was dovish still in regards to any move to taper in the near term. The initial jobless claims will be released tonight 20:30 with 360k expected then on Friday night retail sales are released with -0.4% as the expectation. The US dollar is trading in the low 92.40’s and will be waiting to see how price reacts tonight before taking a trade with a pull back down to the 92.20 to 92.10 region for buying opportunities on the DXY this week. For today there is the AUD news coming out at 09:30 GMT+8 unemployment rate 5.0% expected and employment change for June with 30.0k the expectations. If we can see a small pull back I’d contemplate an entry long at 0.7470 with a 20 pip stop loss and 40 pip take profit based on the news release and after price settles around 5 mins after the release. There’s also GBP employment change 3M/3M (MoM) with 90k expected, yesterday the GBPUSD attempted to break through the 1.3900 resistance but ran out of steam in the 80’s therefore I’d be looking to take a buy trade if price can break through and re test 1.3900. For the AUD there is China news coming out at 10:00 with the GDP YTD with 7.8% expected therefore an aggressive trade on the AUDUSD would be to get in before the release of this news as it can impact the AUDUSD given our significant trading relationship with China.
US index 15 07 2021
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