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Today's News Headlines
- In a bid to break the Irish border deadlock, the EU are willing to offer “anywhere” checks – this might bring us closer to a Brexit deal.
Market Recap
Considering that both the US and Canada were off for bank holidays, the day was surprisingly lively. Both the USD and JPY were strong for most of the day, the catalyst was risk aversion increasing – later on in the day the fears seemed to subside and the gains were given back. There was no better barometer than the equity markets that sold off late yesterday afternoon before almost rebounding to the same levels.
GBPUSD traded as low as 1.3025, later in the afternoon we saw a steady retracement of this move, headlines continue to be the main catalyst as news of an EU offer helped the GBP. At the end of the day, the pair traded to only 25 pips of the open.
The USDCAD was a tough one because of the bank holidays, there is news that Hurricane Michael has formed in the Caribbean which may hit the Gulf coast come Wednesday. This would have a direct impact on oil which in turn could mean a stronger (lower) USDCAD.
I continue to look for intraday opportunities today as headlines still scupper any forming trends.
Important Economic Data Due Today
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