London Open – Dollar is King again by Milan Cutkovic

  • Broad USD strength after slightly more hawkish FOMC minutes
  • USD/JPY back above 109.00 – leveraged funds and CTAs main buyers overnight
  • EUR/USD broke sub-1.26, but will need a clear break below for downside momentum to accelerate again
  • Asian equtity markets mixed; Nikkei and Shanghai are up 0.70 %, but Hang Seng lost 0.80 %
  • Commodities broke lower; Gold at $1205 and Silver at $16.90
  • Main event in the EU session will be German employent data at 0855 GMT
  • In the US session, we’ll see Initial Jobless Claims and US GDP data

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