RBA expected to hold rates, Chinese stock market normalisation builds risk appetite.
"In an attempt to halt the slide, China has arranged a curb on new share issues and orchestrated brokerages and fund managers to buy massive amounts of stocks, helped by China’s state-backed margin finance company, which in turn has a direct line of liquidity from the central bank." -The Guardian
Interest rate speculation and economic indicators point towards stronger sterling. A change in trend since apr-may is visible hence seeking long opportunities makes good sense.
EURUSD saw volatile trading sessions with H4 trendline break. Last minute Greek resolution would push pair upwards, stopping this position out.
Renewed power in us dollar supported by Fed official Powell + technical picture.
Fed has been holding rates near zero level since 2008 however in the US several macro indicators are on stable path of growth. Even looking at prices core inflation (inf. exc. food and energy) is at accaptable levels. On the short run a clear sigh of September rate hike can bring USD strenght
German Bund futures in upward correction as greek debt talks seem to bring last minute resolution (if at al). EURUSD moving sideways since 10th of June, in the week ahead focus remains on Greece and ECB speakers.
Today's eco calendart gives opportunity for news and possible break out trading if US PPI data and Consumer confidence gives a psitive surprise. XABCD pattern is on technical traders list also.