• USD extended its gains as US investors come to the fray, while the pound and the Aussie were on among the weakest. The GBP/USD has been among the top fallers today, with the pound being on the brink as Brexit uncertainty takes its toll on UK economy, while improvement in jobs growth in the US has reduced the prospects of deeper rate cuts there.
  • European stocks and US index futures were coming off their worst levels after dropping at the European open. Equities have fallen a bit out of favour after the S&P broke to a new record last week but failed to push on as investors reversed their extremely dovish expectations over interest rates in the US following the publication of a solid jobs report.
  • They are also keeping an eye on the upcoming earnings season.
  • Today is void of any major market-moving data, but there will be a few Federal Reserve speakers who could spark some volatility in the dollar later on.

Previous articleRisk-Off as Markets Await Powell; Oil, Gold, Bitcoin
Next articleGold Testing $1390 ahead of Powell’s Testimony
DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.