Following a holiday weekend in the US, June will commence with a Tuesday agenda with an OPEC meeting to discuss rough currencies and commodities. Statistical outlook and central banks are becoming increasingly important influencers on the forex market, which is a melody to the ears of the basic traders.
Seasonal commodities are still another toolkit, and a prognostic month will emerge in April, and a little bit of a dude will be published in May, but when you've been using these blogs for ten years or so, usually are plenty more strikes than misses. Some good signs are there for June.
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1. The decline of USD/CHF
In the last 20 years, June is considered the second-worst month of USD/CHF, and ten years have seen a decrease in the pair. In the preceding two decades, the average decrease was 1.02%. On Shorts, the diagram shows a situation with minimal backing to fall to 0.8875 or to the bottom of January.
2. Cable runs to Continue
For GBP in May, the seasonal results were bad, but they were finally the top player. This is an indication of the intensity behind the contagion as the economy rebounds swiftly and the Brexit cloud lingers. See the GBP/JPY diagram and see the breakthrough, but GBP/USD will be high in 2018 as well.
3. Best Month for Commodity Forex
June is AUD, CAD, and NZD's second-best month. Due to the shift on the RBNZ, the kiwi is convincing. Since they've cracked the dam, politicians might find it simple to comment or tease at higher rate increases.
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Due to the extreme risk of covid, hesitation in vaccines, and connections with China, I am less optimistic about AUD. USD/CAD may tumble rapidly if it breaks 1.20 because it is also the 3rd best oil month. Within the short future, Iran and the OPEC are at risk.
4. US and JPY Stocks Dividing
June is America's second-worst month in 20 years; however, it is a full month with 0.6% median gains over the last two decades for Japanese Nikkei. In four consecutive years and 13 out of the previous 18, the index also climbed.
5. No time for Bulls and bears of Euro
Euro bears and bulls are hard-fought, but the roughness of the single currency astonished me. Two solid months have passed since the fall in March, and June has been the third greatest month in 20 years. In addition, in 8 of the last ten years, EUR/USD gained in June.
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