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Today's Market Fundamentals
The action during the European session today was the BOE monetary policy decision, in what is becoming a global trend, the bank cut growth forecasts and there was definitely a more dovish tone. The BOE is also going to be very much aligned with what happens within Brexit, the EUR pairs felt the same form of pain as the European Commission also hinted towards cuts in growth forecasts.
Risk and commodity pairs struggled yesterday as concerns about US-China trade resurfaced, it seems as though Trump and Xi will not meet before deadline and comments from Kudlow suggested that talks were not going well.
It seems as though we are very much focused on risk tones and this may be the theme leading into the next few weeks.
Today's Market Trading Levels
- EURUSD BUY 1340 – 1.1320
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