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In the Zone
- USDJPY
- Gold
- USTEC
Market Insight Commentary – Forex
Today's News Headlines
- Despite the Brexit rhetoric in the last couple of days, the Irish foreign minister stated that a “no deal” outcome is still very unlikely at this stage – this could prop the GBPUSD today.
Market Insight Commentary – Indices
Market Recap
The major economic release yesterday was the US CPI report and the market seemed to anxiously await this report and in truth it left the dollar bulls a little bit disappointed. The soft reading allowed the EUR to recover its small loss on the day and eventually the pair rose to 1.1700.
Undoubtedly the underlying theme in the market is the potential trade war which still looms, Donald Trump has been very active on his twitter account and this has led to volatile swings in financial markets. As I touched on yesterday the USDJPY continues to be the only FX pair that I am considering although I am very much relying on the equity markets to dictate my entry. US equity markets are at all-time highs and one gets the impression that a relief rally in the very least may drive this pair.
The action is very much centred on the indices as well as the commodity markets and as such we will have to monitor this pretty closely. Friday the 13this often lucky for some and hopefully it rings true in our trading today.
Important Economic Data Due Today
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