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Market Insight Commentary – Forex
Today's News Headlines
- Trump has promised farmers impacted by tariffs will receive subsidies in the coming months, but I feel he may be setting a bad precedent with these continues trade wars.
Market Insight Commentary – Indices
Market Recap
It seems as though there are some happy days again for the Bitcoin investors as there seems to be a little bit of a reprieve for those investors. The forex market continues to be a little bit of bore as there continues to be a little data to drive the market, there is a meeting with the ECB officials today, I am sure that there will be comments from Trump, he has already started warning about repercussions for those that are not giving fair deals.
The EURUSD stalled the fall at the converged 100 and 200 hour MA of 1.1675 during the New York session, this will become a key level to watch today. The GBPUSD moved above 200 hour MA at 1.3105 with the high coming at 1.3160, the pair is stuck in a tight range at the moment.
Trading conditions are pretty tough at this time and I am still seeking opportunities in the indices and commodities – as was yesterday, we need to be patient as I am convinced there will be some trading opportunities soon.
Important Economic Data Due Today
16:30 USD Crude Oil Inventories
Consensus: -2.6M
Effect: No consistent effect on the USD
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