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(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

FOREX: Over the weekend reports noted that North Korean leader Kim has agreed to
suspend nuclear & missile tests, but subsequent reports noted that US President
Trump will tell Kim to first dismantle the sites and denuclearise before
economic sanctions can be lifted.
- This led to a lack of impetus in markets, despite positive developments on the
US-China trade front. USDJPY edged higher to trade at 107.80.
- GBP added 20 or so pips to trade at ~1.4020. Reports suggested that UK PM May
may be open to staying in the customs union, but that has been brushed aside by
Downing St. following reports of further internal dissent within the ruling
Conservative Party.
- EURUSD moved further away from the 1.2300 level, shedding 15 or so pips to
last deal at ~1.2270, while the AUD, CAD & NZD struggled for any real direction.
- USDHKD benefitted from IPO chatter, which has allowed the cross to edge away
from the top end of its permitted trading band.
- Asian hours were light on tier 1 risk events, with focus set to fall on
Eurozone flash PMIs, a speech from ECB's Coeure & a speech from BoC Gov. Poloz.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |