Probably is that the US and China resume negotiations

“Delegation will be sent to the US for talks in late August” and “The delegation will be led by Vice commerce minister and meet US team led by Secretary of the Treasury” – its stated in a statement of China’s ministry of commerce. Also, we could see the USD weakening somewhat temporarily.

In other news we could get the UKs Retail Sales growth rates (European morning) and the number of housing starts and the Philly Fed manufacturing index (American session).

AUD/USD broke the downward trend line and tested the 0.7265 (Asian session). We see the case for the pair to start slowly rising as the USD could weaken. We could see the pair breaking the 0.7265 resistance line and aim for the 0.7325 resistance area. On the other side, we could see the pair aiming if not breaking the 0.7200 support line.

Other economic highlights for today (6/22/2018)

In the European session we get France’s final GDP growth rate for Q1 and a number of PMI’s from Germany, France and the Euro-zone which could have an adverse effect on the EUR.

In the American session, we get Canada’s inflation rates and retail sales data, with their forecasts providing mixed signals to the market about the Loonie.

Also, please be advised that the OPEC meeting could provide increased volatility for oil prices.