News


Not a good look for risk going into European morning trade

S&P 500 futures are now down ~0.8% to a fresh low and that is keeping the dollar slightly more bid as we start to look towards European trading.

The ranges in the major currencies space are still relatively modest but the greenback is keeping a slight advance now alongside the yen.

EUR/USD is near the lows at 1.1730 with AUD/USD also keeping lower around 0.7110 after being rejected by its 200-hour moving average earlier.

Meanwhile, USD/JPY is keeping softer in a fall from 105.70 to near its 100-hour moving average at 105.50 currently.

The softer mood is reverberating to Asian equities as well with the Nikkei down by a little over 1% to a fresh low on the day in the final two hours of trading now.

Elsewhere, gold is also dragged down by 0.6% to a session low of $1,887 and 10-year Treasury yields are a touch softer at 0.644%, down 0.5 bps.

For bank trade ideas, check out eFX Plus

The debate earlier produced a lot of noise but in terms of key changes to election sentiment, there wasn’t much in all honesty. Perhaps the biggest takeaway is that there is still going to be plenty of uncertainty, especially with that on a ‘peaceful transition’.



Source link

Articles You May Like

Best Indicator for Forex Trading Scalping | 20+ PIPS EASY STRATEGY
Forex Trading For Beginners – Can You Really Make Money As A Forex Trader?
Free Forex Trading System | Trend Forex Indicator | Verified Protected Forex Trend Indicator
My Intraday Forex Trading Strategy I Use Everyday | Intraday Forex Strategy
LIVE Forex Trading Analysis – NY Session 16th October 2020 XAUUSD Gold Trading

Leave a Reply

Your email address will not be published. Required fields are marked *