MARKET DEVELOPMENT – GBPUSD STEADY, EURUSD RISE HALTED
GBP: Following the choice by parliament to vote for an Article 50 extension, GBPUSD is comparatively steady with 1.33 persevering with to stay a stumbling block for the pair. Whereas no-deal Brexit dangers proceed to recede following this week’s votes, the Pound just isn’t out of the woods but. (GBPUSD commerce outlook with IG TV, click on right here).
AUD / NZD: Given the improved danger tone with fairness costs edging larger, AUD and NZD have been among the many most important beneficiaries. As a reminder, with right this moment being quadruple witching, upside in fairness markets could also be considerably exacerbated, thus conserving excessive beta FX pairs supported. Waiting for subsequent week, key focus will probably be on NZ GDP and AU Jobs knowledge.
EUR: The Euro has discovered assist above 1.13 amid the softer dollar, nevertheless, upside has been capped at 1.1325-30 with $three.3bln value of choice expiries rolling off at 1.1305-1.1325. Alongside this, the continued narrowing of US/German rate of interest differentials have additionally helped present an undertone of assist for the pair for now.
CHART OF THE DAY: QUADRUPLE WITCHING
Supply: Thomson Reuters
Supply: Thomson Reuters, DailyFX
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“Norges Financial institution: The Solely G10 Central Financial institution to Increase Curiosity Charges” by Justin McQueen, Market Analyst
“EURUSD Worth Evaluation: Additional Upside Appears to be like Restricted” by Nick Cawley, Market Analyst
“Charts for Subsequent Week: EURUSD, AUDJPY, Gold Worth & Extra” by Paul Robinson , Market Analyst
“Utilizing FX To Successfully Commerce World Market Themes at IG” by Tyler Yell, CMT , Foreign exchange Buying and selling Teacher
— Written by Justin McQueen, Market Analyst
To contact Justin, e-mail him at Justin.email@example.com
Observe Justin on Twitter @JMcQueenFX