There is just one to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1600 mark. With it being a long weekend in the US, yesterday appears to be more of a light breather after the Friday selloff. The negative risk mood is returning today and that’s weighing on equities and risk trades, while putting a slight drag on the dollar as well.
The expiries above sit near the 100-hour moving average for EUR/USD at 1.1597 and will act as an added layer in keeping price momentum capped, at least in European trading. That being said, all eyes are on the risk mood in the day ahead. If things turn sour at a quicker pace, I wouldn’t rule out the dollar also slumping amid the backlash against the US administration’s policy incoherence and erratic nature in dealing with the trade war against China.
For more information on how to use this data, you may refer to this post here.
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