FX opening rates Sunday 13.01.2019
Good evening, morning fellow traders and readers. I hope you enjoyed a relaxing and peaceful weekend and you ‘re ready for another
interesting week in FX land on our side.
Sometimes the biggest weekend surprise we can get is silence… In this case a disappointing silence. No breakthrough in the US shutdown, no more positive trade news, Brexit rumours ok, how could the press make a living otherwise?
So what awaits us this week is another leap into the unknown:
Is the longest US shutdown on record finally going to weigh on the USD, are 3.6Bln buckaronies per day of them a meaningful or ignorable cost?
Is this earning’s season going to be the last fountain of cash after the latest major warnings for 2019?
Is May going to lose her vote by a big or an increasingly likely narrow margin causing her to announce her stepping down or in turn shutting up her detractors and are we going into an extended transition? Is the EU throwing her a big lifeline as hinted on Friday?
Is Europe in( a technical) recession? Is the EURUSD 1.12-1.15 box that strong then after last week’s failure?
Will the “yellow vests” swing the European parliament even more to the right?
Is China letting the Yuan revalue to please the US despite rumours they’re not happy about a fast appreciating currency? (spoiler 6.7350 USDCNH will tell us)
Data could give us a lot of answers, we have CPI’s across the planet this week, but I’m afraid I have to tell you politics may once more overshadow the hard facts.
Get your levels ready, read our updates on what’s happening, follow our own “guidance” on how we address all of these pantomimes and trade them.
In the meantime enjoy the end of the weekend relaxation. Japan is closed fyi. Barring a shocker, we should be waiting for Europe’s wake up to get really going .
As usual the market is illiquid at this time of the week, abrupt changes are always possible.
Here are the e-commerce opening rates
Latest posts by K-man (see all)
- Here we go again for another big week. - January 20, 2019
- Earnings season, meaningful vote, record long shutdown. - January 13, 2019
- BOC upcoming interest rate decision: I’m going for a neutral hold. - January 9, 2019