Daily Alert – Wednesday 3rd June 2020: Risk-on continues: equities and FX profitable

Mark NugentDaily Alert, June 2020

Daily Alert – Wednesday 3rd June 2020: Risk-on continues: equities and FX profitable

Markets are remarkably predictable and consistent. Equities are moving up and we see the predictable dynamic between the USD and JPY versus the commodity currencies. This is a highly tradable environment.

My AUDJPY is now about 5 x risk in the money.

We are entering the period of the week when US risk events begin to pile up – ISM Non-Manufacturing PMI, Unemployment Claims, NFP, Unemployment Rate and Average Hourly Earnings. As always, these events can change market sentiment, so we need to monitor the news flow and act accordingly.

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