Things are moving slower to start the new week, with major currencies keeping in tight ranges. But if anything else, do keep an eye out for USD/JPY as it continues to track towards the 160.00 threshold again. That might prompt Japanese authorities to intervene to lock down further yen depreciation, at least for now.
After the central bank bonanza this month, the week ahead promises to be a bit more of a quieter one. That being said, month-end flows will start to come into the picture later in the week. And that could muddy the waters before we transition over to July trading.
As for today, there isn’t much on the agenda to really shake things up. The German Ifo business survey for June is the highlight but that hasn’t been a key release for some time now. The German economy is stuttering along towards the end of Q2 and the report should reflect just that.
As such, the overall risk mood will be one of the more impactful drivers for trading sentiment to start the week.
0800 GMT – Germany June Ifo business climate index
0800 GMT – SNB total sight deposits w.e. 21 June
1000 GMT – UK June CBI trends total orders
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.