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In the Zone
- USDJPY
- GBPJPY
- EURJPY
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Today's News Headlines
Market Recap
Another eventful day yesterday as there were various talking heads to entertain the market, there was nothing that the market was not expecting and so the market concentrated on the flows more than anything else – we are heading into quarter end and so there could be some window dressing in the equity market which would affect the currencies.
The EURUSD trended lower for most of the day with price trading as low as 1.1638, this took the price below the 100 day MA of 1.1650, this MA level will define the bulls from the bears this morning. A move above it and there will be a nice corrective move.
The GBPUSD also fell on the day and closed at its lows, although the pair was a little more resilient that the rest of the majors, it still shed a lot of gains. Like the EUR, priced moved away from the 100 day MA of 1.3133 before closing at 1.3075. The bears may be in control at the moment but I suspect that there may be some support buying at these levels, a stall at that support and there could be a corrective move higher.
I am finding it tough to see any trading opportunities at this point and I am still tempted to call it week and rather focus on the Ryder Cup.
Important Economic Data Due Today
10:30 GBP Current Account
Consensus: -19.4B
Effect: Higher than expected is good for the GBP
14:30 CAD GDP
Consensus: 0.1%
Effect: Higher than expected is good for the CAD
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