The FX Indices both look like closing with indecision-style Spinning Top weekly candles. This report has been prepared before the markets close though, as I have a trading course this weekend, so traders should confirm this once the markets close. This week bring the FOMC rate decision so watch to see if this impacts the […]
Both FX indices have printed small, Spinning Top weekly candles reflecting continued indecision. The progressively smaller candles on the DXY brought the Babushka doll set to mind and, hence this photo. Next week could offer slower trading and fewer opportunities given it is US Thanksgiving but keep watch for any other potentially market-moving news related […]
The US$ is lower for the week as the markets wait for the result of the US Presidential Election. A Democrat win is now widely expected and the prospect of a divided Congress is supporting risk assets and thereby putting pressure on the US$. The FX Indices are now aligned for risk-on BUT caution is […]
The US$ had a good week on the back of some flight to safety flows due to rising Covid cases in the USA and Europe. The week ahead is likely to be volatile due to the US Presidential Election so it might be best to wait and assess the FX indices after this risk event.