Starting the day |
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Hi everyone and welcome back! Risk aversion rally extended during first Asian hours, yet as comment on the daily Wrap up Webinar last night, dollar was a bit overextended and corrections started in current European session. European stocks are down, yet U.S. futures as well as gold are slightly positive on the day, favoring the corrective movement. Both Pound and Yen accomplished the mentioned rallies, as GBP/USD sunk to 1.6160 level, while Japanese Yen finally break yesterday’s low and accelerate to the downside. U.K. Trade balance worst than expected, should keep GBP/USD capped to the upside now. EUR/USD recovery stalled at past weekly low, just around 1.4760 area, so now, we are in those points where majors should tell us either if they will regain past day’s trend, or if this downside dollar corrective movement will extend. As we continued to be driven by gold, I will post a chart and some toughs of it after the Majors’ sentiment for today. Anyway, we have some interesting news today, mostly in England and late U.S. session, New Zealand rates. Will also add a bit about it. Here is the link for today’s calendar:
http://www.fxstreet.com/fundamental/economic-calendar/
Have a great day!
Filed under: Forex Advisor
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