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FOREX SUMMARY

FOREX

FX afternoon session saw further small downside continuation for the British pound, down over 1% against the USD and JPY.

  • At some point this afternoon GBPUSD printed a 1.3141 low, but is off its worst level, now 1.3164, at the time of typing.
  • EURGBP is through resistance at 0.8987 50-day EMA,but lacked further traction and is now trading at 0.8979.
  • USDCHF made an attempt towards Friday's high 0.9163, printed 0.9159, following the better bid in Equities throughout the session.
  • Equities are underpinned going into the ECB this week, on the hope of more stimulus.
  • EMFX struggled against the USD today, with the Rand leading losses in EMEA, down 0.78% on the day.
  • Some local interest was noted this morning, but turnovers are below averages, given the US Labour day.
  • Looking ahead, President Trump will hold a presser at 13.00ET

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