Currency Call Mid-Day Update (24 June 2021) with LCMS Traders
During today’s Currency Call, Hong-err Donknowlehhighlighted the following points:
- The Bank of England (BoE) will be announcing their monetary policy decision today at 1900 (GMT+8). The central bank is likely going to keep monetary policy unchanged.
- Unlikely that the BoE will be announcing any QE tapering today as it may be adopting a wait and see approach due to the recent delay in the easing of COVID restrictions to 19 July.
- Also, as the central bank will be releasing their economic projections during their next meeting on 5 August, it is likely that the BoE will be waiting for the UK economy to adopt to post-lockdown before considering any change in monetary policy.
Scott highlighted the following points:
- Wait for USD/JPY to move back to the support zone of 110.846 before looking for buying opportunities.
- If there is any mentioning of QE easing from the BoE, GBP/JPY may break above the resistance level of 155 and present buying opportunities.
- Wait for EUR/JPY to test the 132.80 level and look for selling opportunities if it bounces down from that level.
- Wait for XAU/USD (Gold) to drop to the 1755.79 level and see if there’s anything bullish signs for buying opportunities.
During the day, USD/JPY, GBP/JPY and EUR/JPY weakened while XAU/USD was little moved.
Watch today's video below:
Penafian: Pandangan yang dinyatakan adalah semata-mata dari pengarang dan tidak mewakili kedudukan rasmi Followme. Followme tidak bertanggungjawab ke atas ketepatan, kesempurnaan, atau kebolehpercayaan maklumat yang diberikan dan tidak bertanggungjawab untuk sebarang tindakan yang diambil berdasarkan kandungan, melainkan dinyatakan secara bertulis secara jelas.
Tiada ulasan lagi. Jadilah yang pertama berkongsi pandangan anda.