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In the Zone
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Market Insight Commentary – Forex
Today's News Headlines
- Trump started yesterday to back track on sanctions against Russia – he can sometimes be a real coward.
Market Insight Commentary – Indices
Market Recap
I was waiting to see some impact on the markets from the Syrian crisis and there was very little, it would seem that the military action over the weekend – it was largely more a show of force than anything else. In actuality the dollar did the opposite and weakened substantially yesterday.
The cable is increasingly stronger over the course of the week and the pair closed near session highs as technical levels continue to trade higher. We spoke about a key 200 week MA on Friday night, yesterday the cable bottomed out at 1.4225 and the pair went to town as the pair traded as high as 1.4340 and I will be looking for sellers to join the market today.
The EURUSD was also trading higher as it moved to 1.2395 before trading in a tight 40 pip range for the rest of the day.
Important Economic Data Due Today
14:30 USD Building Permits
Consensus: 1.33M
Effect: Actual higher than expected is good for the USD
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