The EUR has held up well over the last 24 hours in the wake of it’s post-central bank rally and such consolidation is normally a sign of more to come. EUR/USD is unchanged from yesterday in Asia, trading a 100 pip range over the last 24 hours which is remarkably tight given what’s going on in the markets. With precious metals and commodities still in demand, it’s no surprise to see currencies such as the AUD and CAD outperforming.
Next big event risk is tonight’s NFP lottery and I’m expecting a quiet Asian session, although it is risk-off Friday.
Good luck today and TGIF.
