The changes among major currencies this week are leaving a lot to be desired, and we're pretty much starting today from where we left off in European trading yesterday. That says a lot about the market appetite, or should I say lack thereof, and a lack of major economic releases this week isn't going to help with that.
USD/JPY is slightly lower today to 139.27 currently, down 0.3%, but that is still keeping with the range that we saw yesterday. Talk about a snoozefest. Meanwhile, EUR/USD and GBP/USD are both holding in narrow ranges (under 20 pips) at 1.0693 and 1.2427 respectively.
The aussie remains slightly underpinned after the RBA surprise rate hike yesterday, though AUD/USD is held back by its 200-day moving average at 0.6690 for the time being.
Looking to European trading, there will just be a couple of light releases so expect the slow and arduous wait to continue this week.
0545 GMT - Switzerland May unemployment rate
0600 GMT - Germany April industrial production
0600 GMT - UK May Halifax house prices
0645 GMT - France April trade balance data
1100 GMT - US MBA mortgage applications w.e. 2 June
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.
