Littlefish FX Analysts
Littlefish FX
KEY DATA RELEASES TODAY (BST) :
08:00 USD FOMC Member Evans Speaks
09:30 GBP MPC Official Bank Rate Votes 0-0-9 v 0-0-9
09:30 GBP MPC Asset Purchase Facility Votes 0-0-9 v 0-0-9
15:30 USD Crude Oil Inventories -1.3M v -2.2M
19:00 USD FOMC Meeting Minutes
OVERNIGHT:
EURUSD an extremely active market over the previous sessions which started off with dovish comments from ECB board member Coeure catching short term players off guard saying that the ECB would be front loading its asset purchases under its QE programme ahead of the summer months. This was followed by stronger housing starts out of the US which provided the next leg lower resulting in an eventual break of 1.11
GBPUSD is on the back foot after a weak CPI print yesterday. Given the market was in bullish mode, the re-emergence of the USD has led to a swift exit for cable bulls. Traders don’t see the BoE hiking any time soon on this and with the market now more balanced expect rallies to be faded up to the 1.5600/50 area if seen.
USDJPY has been the main mover in Asia after solid gains over the last few days awoke the market after a decent US Housing Starts print past night. A lift and close above 120.85/121.00 should see further gains traders remain bullish on dips down to 120.50 on the day. 122.05 is the big level still topside and that should start to come into focus.
KEY TRADES:
All comments, charts and analysis on this website are purely provided to demonstrate our own personal thoughts and views of the market and should in no way be treated as recommendations or advice. Please do not trade based solely on any information provided within this site, always do your own analysis.
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