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Market Insight Commentary – Forex
Today's News Headlines
- Rumours surfacing yesterday that the UK are braced for a soft Brexit, I suspect that the EU will come out and squash those today.
Market Insight Commentary – Indices
Market Recap
The market was in a bit if a lacklustre mood yesterday, there seemed to be nothing to spur the market on yesterday. The economic calendar was light with nothing really of note to give the market some direction, there was also daylight savings in the US – I am not sure why, but it always seems to be a light day after.
The dollar instead continued its recent profit take after the jobs data from Friday and so this left the dollar slightly weaker – not to say there wasn’t any two way opportunity. The tariff story seems to be watered down, and the infamous Trump twitter account has gone quiet. Everything seems to be waiting on fundamental news.
I will be watching the GBPUSD this morning with interest, the pair traded at its best levels since March last year on optimism of Brexit. As I said last month, any move higher in cable is an opportunity for me to re-establish short trades.
Important Economic Data Due Today
13:30 GBP Annual Budget Release
Consensus: None
Effect: More hawkish than expected is good for the GBP
14:30 USD CPI
Consensus: 0.2%
Effect: Actual higher than expected is good for the USD
16:15 BOC BOC Governor Poloz Speaks
Consensus: None
Effect: More hawkish than expected is good for the CAD
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