There are a couple to take note of on the day, as highlighted in bold below.
The first being for EUR/USD at the 1.1700 mark. With the pair already clinching an upside break earlier in the week, the expiries here might just help to limit any downside momentum as buyers are now in near-term control. That especially with the dollar looking increasingly sluggish as trade agreements are flying in ahead of the 1 August deadline and if not, the TACO play seems to be the backup plan.
As for the other one for USD/JPY at 147.00, that’s unlikely to factor much into play. The US-Japan trade deal is the main thing as traders are digesting what to make of it still. The yen is flip flopping amid some better relief for the economy and BOJ prospects but there’s still lingering political uncertainty remaining.
For more information on how to use this data, you may refer to this post here.
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This article was written by Justin Low at investinglive.com.
