By Scott Andrews
Morning market update 16 08 2021:
GBPJPY remains an open sell trade entered on Friday last week, with JPY GDP data and Industrial Production coming out this morning which I’m ok to hold through with half of the profits taken on Friday. The end of last week so the DXY pull back to below 92.50 with this week seeing Fed Chair Powell Speaking at 01:30 GMT+8 Wednesday morning to offer any hints on the plan to taper to be on the look out for. Tuesday evening has Core Retail Sales and Retail Sales to offer buying opportunities if there is a beat on expectations, for the AUDUSD & NZDUSD in the currency call today the pick long has been the NZDUSD with the RBNZ presenting a significantly more hawkish tone for monetary policy compared with the RBA. Tuesday morning at 09:30 has the release of the RBA meeting minutes then on Wednesday morning at 10:00 there is the RBNZ Monetary Policy Statement and Rate Statement which could offer a strong catalyst for buys given the calming US dollar.
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