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Market Insight Commentary – Forex
Today's News Headlines
- Donald Trump reiterated last night that he would happily shut down government if he did not get his border wall, looks as though he is starting to turn on his own.
Market Insight Commentary – Indices
Market Recap
The forex markets were subdued once again to start the week, there is life in the markets for the rest of the week with the BOJ, Fed and BOE all set to meet this week – and the big NFP read on Friday. The BOE are expected to raise interest rates while the Fed are expected to hold – the market will be watching the language of the Fed though with a hike in September still very much on the table.
The EURUSD moved above both the 200 and 100 hour MA during the London session at 1.1675 and was able to stay above during the New York session. The high was 1.1715 and that will be the target again this morning, as long as price is able to stay above the moving averages the buyers will be in control.
I am still not finding much value in the FX pairs and instead will focus my attention to the Indices, with the DAX still very much in my sights.
Important Economic Data Due Today
14:30 CAD GDP
Consensus: 0.3%
Effect: Higher than expected is good for the CAD
16:00 USD CB Consumer Confidence
Consensus: 126.5
Effect: Higher than expected is good for the USD
Tentative JPY BOJ Press Conference
Consensus: None
Effect: More hawkish than expected is good for the JPY
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