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Market Insight Commentary – Forex
Today's News Headlines
- Indictment of 13 Russians for election meddling, could bring Donald Trump to social media this morning as proof that this type of meddling came way before he ran for office.
Market Insight Commentary – Indices
Market Recap
Friday saw a good bounce in the dollar, this should have been somewhat expected in what was a terrible week for the greenback. Tuesday will be telling as some market commentators will wonder if this was just paring of positions ahead of a long weekend in both the US and Canada. It could also have something to do with the handful of Russians arrested for election meddling – for the record, it has been confirmed that there was no US involvement.
The EURUSD was the steadiest of the pairs as it was gradually sold throughout the day, the high in Asia was around 1.2550 but finished the day closer to 1.2405 after there was a run on stops that started at 1.2430. This has left the pair with a bearish outlook for this week.
Today could be a strange day as we are not sure what to expect, we could not really get any clues in the Asian session as China is on holiday today, while both the US and Canada are on holiday later this evening.
Important Economic Data Due Today
20:45 GBP BOE Governor Carney Speaks
Consensus: None
Effect: More hawkish than expected is good for the GBP
All Day USD Bank Holiday
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