A1 Trading Company

July 17, 2021

Forex Market Recap (11-16 July 2021)

Bart Kurek

This week we saw uncertainty in the markets as most currencies saw mixed choppy price action, except the NZD which caught a strong bid on Wednesday after the RBNZ announced an end to their quarantine easing program, earlier than expected.

USD:

  • Inflation was higher than expected in June at +5.4%
  • Fed chair Powell says the Fed is waiting for inflation to moderate before altering policy
  • Fed's "Beige Book" shows the economy has strengthened last month but supply shortages worsened
  • Jobless claims hit a new low since the pandemic
  • Fed member Evan says more progress on employment is needed before tapering
  • Retail sales headline at +0.6% in June

EUR:

  • ECB's Lagarde sees policy change in July, possible 2022 measures
  • Germany's wholesale prices at +10.7% y/y
  • Germany inflation rate at +2.3% y/y
  • Industrial production at -1.0% in the Euro area and -0.9% in the EU
  • ECB's Schnabel says to wait for core inflation to rise before tightening policy

GBP:

  • BoE warns asset prices to look stretched in latest stability report
  • UK inflation jumped to three-year highs in June due to price surges in clothes and cars
  • UK jobs jump as the economy is beginning to bounce back
  • The UK is reporting over 42k covid cases, the highest since January

CAD:

  • Carolyn Rogers was appointed as new Senior Deputy Governor of the BoC
  • Manufacturing sales at -0.6% to C$57.9B in May, second monthly decline
  • BoC expecting short-term rise on inflation
  • Wholesale goods at +0.5% to C$72.2B, the third monthly increase
  • Oil expected for a big weekly drop on supply concerns

JPY:

  • Machinery orders rise by +7.8%, third monthly increase
  • Wholesale prices continue to surge as import costs hit new record high
  • BoJ cuts Japan's growth forecast, unveils climate scheme plan

AUD:

  • NAB business confidence index down from 20 to 11 in June
  • Consumer confidence rises at 110.0 vs 107.8 previous
  • Australia adds 29.1k jobs in June vs expected 19.7k gain
  • Unemployment rate falls from 5.1% to 4.9%

NZD:

  • Electronic retail card spending at +0.9%
  • Food prices rise by +2.8% in June
  • NZD jumps at RBNZ ends bond-buying
  • Expansion in NZ's manufacturing sector in June
  • Inflation surges, feeling RBNZ rate-hike bets

A1 Edgefinder

AI- Generated Trading Setups
AI-generated bullish/bearish bias setups on forex currencies, gold, & indices.

Discount code: 'READER'

Access Now

Free

Trading Plan Template
Struggling to build a successful trading plan? Download our template to get started today!
Download
Expecting A Pullback

Today's economic figures came out in US and Canada. GDP came in higher than expected in Canada while the price of goods purchased by consumers was lower than last month. Here are some pullback ideas for USD and CAD from GDP and PCE numbers. EdgeFinder Analysis NAS100 is a bullish reading on the EdgeFinder still. […]

Read More
Traders Wait For More Inflation Data

This week has brought more inflation data with it regarding the USD's PCE and PMI numbers. Powell is also set to speak this Friday about monetary policy going forward. The RBNZ will also release their latest interest rate news tomorrow with expectations of an unchanged rate at 5.5%. EdgeFinder Analysis GBPUSD is a bullish bias […]

Read More
Trading Into PMI Data on EUR, GBP and USD

This week is a big PMI week for Europe, UK and US. Additional inflationary metrics will add to the overall sentiment of these countries' monetary policies going forward. Here are some setups for the coming week on these currencies. EdgeFinder Analysis GBPCAD is now a +7 on the EdgeFinder as we wait for CPI news […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonecrossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram