Markets are still thin as trading desks don’t spring back into life fully until Monday but there’s no change to the prevailing trend as expectations of US interest rate hikes continue to provide USD demand
GBPUSD has now been down to 1.5445 with bids exepcted around 1.5425-30 before a 1.5375-95 target area while offers are now expected in at 1.5485-90 with more behind that between 1.5510-20
EURUSD is finding a bit of support again after the Draghi-comment wobbles with bids at 1.2025-35 holding dips so far but offers seen into 1.2075 then 1.2100
USDJPY and USDCHF still looking perky at 120.44 and 0.9975 but also with sell interest into 120.50-60 and 0.9990-1.0000 keeping the lid on further rallies for the moment
AUDUSD and NZDUSD also trading near session lows of 0.8127 and 0.7736 with support between 0.8100-20 and 0.7700-10 under threat while USDCAD has run of out oxygen for the moment at 1.1668 after its rally from 1.1620
I don’t see much to change this prevailing sentiment for the moment, or indeed as January gets fully underway next week, but we’ve often seen sharp reversals/corrections to start the year, as some large book/position adjustments hit the markets.
Rule nothing out at this stage
