There is perhaps just one to take note of on the day, as highlighted in bold below.
That being for USD/JPY at the 159.00 level. The drop yesterday owes much to a loss in momentum for the dollar, as broader risk sentiment picked up across markets. That is continuing today but the major currencies space is yet to really respond so far.
The expiries don't tie in to any technical significance but keeps in between the 100 and 200-hour moving averages at least. The bookends of the key near-term levels are at 158.66 and 159.20 currently. So, that could see price action hold thereabouts until we get a firmer directional move later in the day.
For some context, USD/JPY has not dropped below both its key hourly moving averages since one month ago. As such, the lower bound highlighted above will be a key level to watch in the session ahead. That will tie in to dollar sentiment and also the broader market mood in general. As such, those two key drivers will still override the impact of any expiries this week.
In terms of data watch, there won't be anything meaningful in Europe. So, the focus turns towards the continuation of the central bank bonanza. For today, we'll have the Bank of Canada and the more eagerly eyed Federal Reserve policy decisions up on the agenda.
That will be a key consideration besides the latest happenings in the Middle East and oil prices of course.
For more information on how to use this data, you may refer to this post here.
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