A sharp selloff in the US$, coupled with an equally sharp spike in stocks following on from the Fed Chair, Powell’s dovish outlook, has ensured that some caution is required heading towards the FOMC Minutes, due later today.
In the FX space, the Euro, Aud and Kiwi all look set for further short term gains. US$Jpy looks a little less certain and I would leave Cable alone altogether.
Stock markets also look as though they want to build on their gains, so buying dips still seems to be the play here despite the weeklies still looking negative.
On the crosses, the Aud$ and Kiwi both seems set to outperform, while AudCad looks increasingly bullish.
The metals and oil are choppy and rangebound although WTI looks to be about to give the $50.00 level and decent push.
No traded today. I think it better to let the markets find some calm.
By November 29, 2018
