Meanwhile, back from our tour of Russia and China we’ve seen a steady USD-neg sentiment getting the greenback grinding lower this morning but we’re now seeing a little consolidation again as we see North American desks open and we await US Q3 GDP and initial jobless claims at 12.30 GMT
GBPUSD has chewed through some, but not all, of the offers between 1.6000-10 that I posted about earlier but still sits delicately poised at 1.6000. EURUSD has similarly failed to breach 1.2600 but had a decent rally after the bids at 1.2550 held on the earlier dip.
USDJPY is trying to make its mind up around 109.00, USDCHF still in gentle retreat but has found bids into 0.9570 while USDCAD is trying to get back above 1.1200.
AUDUSD had a look at 0.8800 and didn’t like it but still 0.8787 with that big support at 0.8750 still intact and expected defence of huge option expiry at 0.8745 today
So let’s see what the data brings and where that leaves the FOMC outlook.
