Time to step back and take a breath in the FX market - AmpGFX

Greg Gibbs, Founder, Analyst, & PM Amplifying Global FX Capital Pty Ltd, an Australian financial services company, explained that it is time to step back and take a breath in the FX market.

Key Quotes: 

 "It lacks conviction, is displaying inconsistent correlations and being whipped around by competing news and views on uncertain events. The market can no longer rely on the US government to act as a source of stability for global markets.  The rebound in Asian currencies is counterintuitive as US pressure mounts on Chinese trade and economic relations.  But it may reflect position adjustment, a pull-back in US yields, and US policy uncertainty.  The AUD continues to be supported by strong commodity prices, but domestic, Chinese and global financial stability risks, exacerbated by rising US rates, accounts for its weakness this year; we continue to see downside risks dominating."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.