As oil plummets below $30.00 a barrel, risk aversion trading takes over the financial boards. Stocks in Europe are diving, US futures trade sharply lower, and gold and the JPY advance firmly against its major rivals.
After Friday’s not-as-bad-as-it-appeared NFP report, traders were optimistic that we would see risk
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EUR/USD negative sentiment towards the common currency prevails: despite the latest recovery, as the background imbalance between Central Bank weighs. 1.0700 seen by the end of the quarter.
GBP/USD ready to resume its decline: market players believe the due correction has been complete, and that the pair is ready to fall back, down to the 1.4300 region.
USD/JPY back towards 120.00: despite the weekly slump, the pair is seen slowly grinding higher, back towards the critical level in a 3-month view.
AUD/USD Break below 0.7000 likely in the mid-term: little can sustain latest Aussie gains, and traders know it. Bears outpace bulls in a monthly view and further.
EUR/JPY no progress, stuck around 130.00: bullish for next week, bearish for the month, the pair is seen mostly hovering around 130.00 all of the quarter, trapped within a limited range.
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