FX market this week: CPI data and jobs data among top-tier data/events to keep forex traders busy.

CPI for NZ, UK and Canada, UK and Aussie jobs data, China Q1 GDP and EZ PMI surveys are likely to be the big focus point for the forex traders in this week (April 15-18) along with other top-tier macro data points across the globe. On top of these, the latest developments of Brexit are likely to keep investors busy.

The following are the top-tier data releases and events that will keep forex traders busy:

  • AUD: RBA Monetary Policy meeting minutes (Tue) and March Labour Force data (Thu)
  • CAD: March Inflation number month-on-month (Wed)
  • EUR: ZEW Sentiment (Tue), EA CPI (Wed) and EA PMI surveys (Thu)
  • GBP: Jobs report (Tue) and CPI (Wed)
  • USD: March Retail sales and several FOMC members speech

Risk-on is the theme been running since opening in Monday session on the back of better China trade data which reported over the weekend.

We found JPY crosses breakouts for you, now see them for yourself.  AUDJPY is the first JPY cross breaches the critical resistance and closed above 200MA among the block. Rest is trading on the verge of a breakout (CADJPY, CHFJPY, EURJPY, USDJPY, and NZDJPY). Last Friday we forecast bullish targets on EURJPY, the cross ran through the first target which we set, but we failed to diagnose the AUDJPY bullish trade.

JPY crosses technical insights:

  • ABove 200 MA: AUDJPY, USDJPY, and NZDJPY
  • Inverse H&S pattern: CADJPY and USDJPY
  • Ascending Triangle: CHFJPY
  • Symmetrical Triangle: EURJPY

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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