Once again most of the overnight volatility happened on the European watch and EUR/USD is opening pretty much exactly where it was yesterday. It is risk-off Friday, and as Jamie mentioned the Swiss bank downgrades may impact on risk sentiment. In recent weeks Asia has been quite keen to buy the USD and if that sentiment continues, then pairs like AUD/USD should have a ‘soft’ session (famous last words!). Overall I’m expecting it to be quiet, with the majors likely to trade inside 50 pip ranges (with the exception of USD/JPY which will struggle to make 15).
Good luck today and TGIF.
