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Today's Market Fundamentals
Yesterday was all about how much more the dollar would weaken on the back of dovish Fed meeting on Wednesday, a lot of the negativity was priced in and so there was that residual moves. The day ahead was all about the potential trade deal between China and the US but there were not major headlines just yet. Trump did hint that the Chinese were hoping to “meet in the middle” and reach an early trade agreement, he commented that the relationship between the two heavy weight economies have never been so good. I will wait to get confirmation from the Chinese before I get overly excited, the IP and technology “problem” persists, but there does seem to be some progress.
Positive headlines like these today will only fuel the risk assets, but we may be stuck in a lull at current levels before a much anticipated US non-farm payrolls report this morning.
Today's Market Trading Levels
- AUDCHF SELL 7215 – 0.7240
- CADCHF SELL 7565 – 0.7585
- NZDCHF SELL 6880 – 0.6900
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