USDJPY
The yen fell slightly after the opening of the Japanese yen on Monday, and the market remained stable, with a minimum record of 108.71 in the day and a decrease of about 0.06 per cent. After the data of the non-farm-employed population in the United States was published, the US dollar was weak, as officials of the Fed`s data accidentally shot down the possibility of cutting interest rates. The trend has continued until Friday, with the U.S. retail sales figures released in the U. S.-based retail sales show that the dollar has risen to a boost, recovering most of the drop, and the hedge-currency yen overshadowed. The yen has continued its downward trend this week, and the city`s lack of fundamentals is unlikely to rebound. The low level of inflation has been a big problem for Japan, though it has been insisting on a more relaxed policy to keep interest rates in-0.1%, but the level of inflation remains in a depressed state. Japan has also tried to expand the money supply by buying government bonds, and to stimulate economic spending, which led to one of the world`s most heavily indebted countries, and the level of inflation is far from the established 2% target. If the yen is too strong, it is not conducive to exports, a reduction in exports, a decline in import prices, a lower price level and a blow to consumer confidence, a step further from the target`s inflation. The market is making further decisions after waiting for the Fed`s interest-rate resolution, but the market is expected to fall for the Fed`s interest rate cut, and at least the interest rate will not be cut down at the June meeting, temporarily easing the yen`s pressure. From the technical level, the Japanese yen is in the whole phase in the short term, and is blocked at the first line of 108.80. If the break-through is further, 23.6% of the Fibonacci pullback bit is 108.90, and the lower support position is 107.80 integer bit level.
USDCAD
The Canadian dollar was held at 1.3392-1.3418 yesterday, with investors waiting on the market for further guidance in the context of the uncertainty of the global economic and political situation and a lack of kinetic energy for the Canadian dollar. Canada`s eco-data has recently been shown to be very beautiful, coupled with the U.S. delay in imposing a good news on Mexico, and the Canadian dollar has been boosted and has been strong in the past two weeks, and has once refreshed nearly three months. However, the sharp strengthening of the Canadian dollar has been reversed following Friday`s announcement of the U.S. retail sales data, which has the name of terror. The month-to-month retail sales in the United States recorded 0.5% in the month-on-month period, which was lower than that of the market, but above the previous value (-0.2% to 0.3%); in May, 0.5% was the same as the previous value (0.1% to 0.5%), which was better than the expected value of 0.3%; In June, that U. S. university confidence record 97.9, below the previous value 100 and the expected value 98. As it can be seen in the published data, retail sales are basically robust and the front-value is up-regulated, suggesting that consumer spending remains strong and, to some extent, eased the pressure on the economic recession in the United States. The data revealed a rise in U.S.-debt yields, which raised expectations for U.S. GDP, a boost to the dollar, and a lower dollar in the commodity currency. Can the Canadian dollar be strengthened again in the Federal Reserve`s interest rate resolution this week, and if the Fed has a doves position, the Canadian dollar will be boosted. From the technical level, the currency pair is likely to be blocked at 61.8% of the pull-out position, 1.3435, and 1.3365 for the lower support.
GBPUSD
The pound was extremely weak yesterday, falling to a daily low of 1.2531, hitting its lowest level since January. Last week Bank of England member Flegg said Britain could raise interest rates more times if Brexit goes well and, if necessary, increase QE asset purchases. Bank of England Vice Governor Brodbanter also said that if the UK economic growth, as expected by the central bank, interest rates could rise faster than the market interest rate curve in May. Although the Bank of England has released hawkish comments that have made Britain the most likely country to raise interest rates against the backdrop of other countries considering rate cuts, it now appears that central bank policy is far less influential than pressure from domestic governance and Brexit. British Health Secretary Hancock withdrew from the party chieftain race for Prime Minister and Conservative Party yesterday, saying he would support the election of former British Foreign Secretary Johnson and believe Johnson is the best candidate for the Conservative Party. Johnson is one of the advocates of tough Brexit, and judging from the current situation, Johnson is likely to become the next prime minister, then Britain and the European Union will be increasingly divided. The outflow of the news suggests that unagreed Brexit is likely to be the final plan, heightened concerns about the outlook for Brexit and sharply reduced expectations of a rate rise in the Bank of England`s upcoming interest rate resolution on Thursday, so many market participants expect the Bank of England to keep interest rates unchanged at 0.75 percent instead of the previous rate hike. From the technical point of view, the upper resistance level is 1.2746, if the breakthrough, the withdrawal level is 1.2822 to 61.8%, and the lower support level is 1.2510.
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