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In the Zone
- GBPUSD
- NZDUSD
- USDCAD
Market Insight Commentary – Forex
Today's News Headlines
- Over 100 missiles fired on Syria over the weekend is likely to dominate headlines this morning, what will Russian response be?
Market Insight Commentary – Indices
Market Recap
It seemed as though the promise laid bare by Donald Trump was never going to reach fruition, but late on Friday night the response to the Syrian debacle was finally seen. The US, France and the UK combined to launch over 100 missiles on 3 separate targets in Syria – this week may be all around the response that Russia give to this. Don’t be surprised to see China side with the Russians – and we know that North Korea will bite at any invitation to get under Trumps skin. I am seeing reports that this could see the start of a new Cold War.
Considering that it has been 48 hours, the FX market response has been pretty muted and perhaps we will have to wait for either London or New York to open to determine the full extent of this move – either way the market started de-risking on Friday evening.
There are a couple of pairs to watch this week, but I will be keeping a keen eye on developments in the GBPUSD. It was unable to close above the 200 week MA at 1.4250, although this morning it has had a little dip lower. This will be another make or break couple of days for the pair and I suspect that the sellers may come in force later this week.
Important Economic Data Due Today
14:30 USD Retail Sales
Consensus: 0.4%
Effect: Actual higher than expected is good for the USD
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