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Light Risk-On Flows Dominate Early Trade, Market Closures Sap Liquidity

FOREX

A marginal uptick in risk appetite has dictated price action across G10 FX space in early trade this week, as e-minis inched higher following Friday's losses at Wall Street. The yen has led safe haven currencies lower, while commodity-tied FX have outperformed, with NZD taking the lead.

  • GBP has faced some mild headwinds, which might be linked to domestic political affairs. Leader of the Scottish branch of the Conservative Party said PM Johnson should quit if he had violated expenses rules. Elsewhere, the SNP might win majority in this week's Scottish election, which would bolster their case for another independence referendum.
  • Market closures in China, Japan, UK & Australia's Queensland/Northern Territory will limit liquidity today. Global economic docket features a suite of M'fing PMI readings & comments from Fed Chair Powell.
Energy BulletsCommodities
Energy BulletsCommodities

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