Good day one and all,
In the absence of any data of note in this session traders will be looking to find some inspiration/momentum from USDJPY as once again we’re faced with the will-it-won’t- it-break 100 debate.
The defence of this significant barrier has been most impressive so far but does Europe have the ammunition to take it through or will it once again limp back down again as the yen shorts lose faith ? Just how much outflow from Japan is the market expecting ?
And what to make of GBP after it’s rampant, seemingly M&A-led, performance on Friday only to be undone by the Fitch downgrade, which if nothing else brought a reality check back to the market. Bears and bulls will both have reason to be digging in at these levels and it should be an interesting contest.
Will the euro continue to punch above its weight? and is the SNB quietly soaking up a few EURCHF in the dips ?
AUD, CAD and NZD on the brink of a decent run lower? or just another false alarm?
A manic Monday ahead or one of malaise? Let’s hope it at least provides some good opportunities
