Equity markets in Asia and Europe are all in the red however US futures point to a mixed open.
Wednesday began with a bout of USD strength although it’s hard to pinpoint why. Maybe the continued nervousness over a US / China trade deal has traders favouring the USD (except against JPY).
Ranges have been tight, EURUSD stuck between 1.1162 and 1.1182. GBP had a move lower during European hours falling back below 1.2950 to a low of 1.2927 but even that was short-lived as we headed back to 1.2950 by the European close.
Will Friday’s US Retail Sales data send us into the weekend with some much needed volatility? https://youtu.be/89TIO7RD3lU Hope everyone is…
EURUSD approaches key support at 1.0990 -1.1000 but holds for now. https://www.youtube.com/watch?v=ev-VCkdXfYk&feature=youtu.be Tuesday began with focus turning to events in…
Last week’s attention focused mainly on US/China trade talks with the overall positive tone taking US equity markets to all-time highs.
Wednesday had a quiet feel about it with both equity and FX markets struggling to find direction. The main topic of conversation was the signing of the Phase 1 trade agreement between the US and China.
The Asian and European sessions were virtual non-events for FX although European equities were happy to nudge a little higher. That aside we are virtually unchanged from Thursday’s close
the FOMC meeting takes centre stage as the market waits patiently to see if the Fed will cut interest rates as well as offering guidance for any future moves.
initially we had a mild reversal of Monday’s FX moves with EURUSD drifting back to 1.1075 and USDJPY to 108.84. This took EURJPY to 120.60 a good 40 points off its earlier highs.