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In the Zone
- GBPUSD
- AUDUSD
Market Insight Commentary – Forex
Today's News Headlines
- ECB are shifting to a steeper rate path, this should start helping the EUR.
Market Insight Commentary – Indices
Market Recap
The day was dominated by the positive news headlines filtering through over both the ECB as well as Brexit and these headlines buoyed both the EUR and GBP. After a poor week yesterday for the commodity currencies, there was also what looks at this point a relief rally, it is a FOMC decision tomorrow and a meeting where the market is starting to believe there is a hike coming – I suspect that yesterday was a couple of doubts creeping in and perhaps some profit taking.
The USDJPY was moving in correlation with the stock markets, the tech stocks led to a mini sell off of such. The catalyst was reports that Facebook data is being exploited to win elections and this led to the collapse of the tech stocks. The JPY is one I am going to stay away from because of this very reason, one stock can really affect this pair.
It could be a slow day this afternoon as the market braces for the FOMC tomorrow.
Important Economic Data Due Today
11:30 GBP CPI
Consensus: 2.8%
Effect: Actual higher than expected is good for the GBP
All Day All G20 Meetings
Consensus: None
Effect: Could affect the cryptocurrencies this week
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