Patterns don’t work 100% of the time. But they are still critical because they help you define your risk. If you ignore patterns and focus on hunches, feelings, and hot tips, just forget about achieving consistency.
USD
EUR/USD
The Shared currency rallied to $1.0525 as the Hawkish ECB supported the pair after Italian Prime minister Mario Draghi said that the ECB interest rise is bound to be more gradual than in the U.S.
GBP/USD
The Cable initially tumbled to $1.2050 after the Bank of England hiked rates by 25 basis points but later skyrocketed to $1.2310 as door remained open for a further hike in the U.K.
USD/JPY
The Japanese yen nosedived to 133.86 against the greenback after the Bank of Japan kept its ultra-easy policy unchanged, defying pressure from aggressive tightening.
AUD/USD
The Aussie dollar gained to $0.7019 on falling yields as the Market eyes Fed Powell's speech later during the day.
USD/CAD
The Loonie lost ground to 1.2943 as oil prices remain pressured amid growth fears and hopes that the U.S. can help recede the supply crunch.
USD/ZAR
South Africa's rand traded sideline with a bearish bias despite U.S. building permits and housing data eased in May and Philadelphia Fed Manufacturing Survey printed a negative figure of -3.3 for June, the first such contraction since May 2020.
USD/MUR
The dollar-rupee remained unchanged at 44.50 (Selling).
10:00 - JPY - BOJ press conference
15:00 - GBP - BoE Quarterly Bulletin(Q2)
16:30 - CAD - Industrial Product Price (MoM)(May)
16:45 - USD- Fed's Chair Powell speech
19:00 - USD - Fed Monetary Policy Report
