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In the Zone
- Oil
- EURUSD
- USDCAD
Market Insight Commentary – Forex
Today's News Headlines
- Macron speaking in US Congress yesterday mentioned that the world cannot remove any deals with Iran, could have an impact on oil.
Market Insight Commentary – Indices
Market Recap
The dollar continued to make higher returns yesterday as the focus remained on the bonds with the 10 years continuing to target 3.05% and the 2 years trading above 2.5% for the first time since 2008. This has seen a rebalancing of portfolios with asset managers happy to move funds into these yield earning returns and by doing this they have had t by the dollar.
The EURUSD will be the focus today, with the ECB to come and jitters are clearly taking a toll on a crowded position. The buyers are so far happy to build bids at 1.2160 but they don’t look convinced just yet.
Sentiment in oil, and reports of a positive NAFTA deal could make this week a good one for the CAD, it finished flat on the day and I suspect that the USDCAD could be the trade wo watch this morning.
Important Economic Data Due Today
13:45 EUR Minimum Bid Rate
Consensus: 0.00%
Effect: Higher than expected is good for the EUR
14:30 EUR ECB Press Conference
Consensus: None
Effect: More hawkish than expected is good for the EUR
14:30 USD Core Durable Goods
Consensus: 0.5%
Effect: Higher than expected is good for the USD
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