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In the Zone
- EURUSD
- USDCAD
- USDJPY
Market Insight Commentary – Forex
Today's News Headlines
- Mueller announced more charges in his Russian probe this evening, again it did not include Donald Trump – I’m waiting for his twitter account to go into over drive.
Market Insight Commentary – Indices
Market Recap
For a third consecutive day, the greenback continued the rally, there are various reasons that may be behind the move but the continued Russian investigation could be the plausible one. There was more news that came out of the investigation last night, and again it did not include Donald Trump – I am amazed that the Trump twitter account has not been going crazy. If this continues in this fashion, the Democrats are going to be left with some serious egg on their faces.
The USDCAD felt a bit of a double whammy yesterday as we saw some weak data released in Canada, the rally above 1.2648 was a steady move but did gain some momentum late last night as the commodity prices came under pressure. This leaves the pair very vulnerable this morning, I will be watching to see if the loonie is able to attract some sellers to start building offers up here.
The AUD has also felt the pain of lower commodity prices, China has been out the market for the last two days and I wonder if that means they will push the prices a little higher this morning. I continue to keep an eye on the both the USDCAD and EURUSD for opportunity.
Important Economic Data Due Today
11:30 GBP Average Earnings Index
Consensus: 2.5%
Effect: Higher than expected is good for the GBP
16:15 GBP Inflation Earnings
Consensus: None
Effect: More hawkish than expected is good for the GBP
21:00 USD FOMC Meeting Minutes
Consensus: None
Effect: More hawkish than expected is good for the USD
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