European Open: USD bid

Another dull asian session, but we are seeing some spotlight pairs (from the watchlist) prepare for potential moves. As well, sentiment towards the Euro has also turned bearish and there are a couple of pairs (EurGbp & EurAud) that look better positioned to take advantage of any continuation. I still don’t expect much today though…investors will remain largely sidelined leading into the end of the week wherein focus will turn to key Chinese manufacturing reports (tonight), US quarterly GDP data and commentary from Fed President Janet Yellen and ECB’s Draghi.

No data on tap todayeither if we exclude minor data on Gbp and Shafik on the wires. Fed Officials yesterday fuelled some sort of rally in the USD which I like to play via NzdUsd shorts & UsdCad longs.

Charts for today:

GbpNzd

NzdUsd

UsdCad

EurAud

EurGbp

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