Market Analysis: Risk Retreat Continues
Hi traders, today we see further declines across risk markets, with the EURUSD also joining in after two days of solid gains. This started earlier in the week with the JPY seeing healthy demand across the boards with gains to the majors. Risk majors had been a bit more resilient to the USD before today with the EUR, AUD and GBP closing higher yesterday.
Today has been a different affair with some dumping going on late into the Asian session with the AUD, EUR and GBP and trading sharply lower at stages. This hasn’t just been confined to FX as equity markets have also been seeing selling. The US30 which tracks the Dow futures during the Asian session traded 1.84% lower at one stage extending the current decline to three sessions.
In today’s video, we mainly concentrate the AUDUSD and EURUSD and the levels we’re watching. We run over what we are looking for from sellers to confirm or give further indication that the current selling could continue.
Tonight’s USD news 10:30 pm – PPI, Core PPI and Unemployment Claims.
Market Analysis Video