A quick look around markets ahead of Draghi and a possible announcement from Trump
It’s a slow grind out there in forex land and it’s making us work hard for our pips today.
I took off half of my Cable longs from yesterday at 1.3510 earlier and am sitting here waiting for it to break higher. Boredom might be the final trigger to exit if we don’t get a push up through 1.3515 soon. The 1.3465/70 area is still the main support.
USDJPY is still keeping a firm foot in 112.00 and the 200 DMA is still supporting at 112.18.
EURUSD is banging it’s head on 1.1920, with small support seen at 1.1900, and stronger at 1.1890.
AUDUSD is one currency that is moving. Agaion it’s a slow burner but it hasn’t stopped dropping since the overnight RBA Lowe’s comments that hikes were not just around the corner.
Newswires have a US official saying that Trump will make an announcement on North Korea, so perhaps that will give risk trades a shove, whichever way his comments are taken.
Draghi is up speaking in Frankfurt at 13.30 GMT but he’s got his ESRB hat on so it’s doubtful we’ll get any mon pol chatter. We can but hope.