Forex - Psychology/Strategy for major markets today

 10:17 (GMT) 12 Apr

  [Forex Strategy]

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Psychology/Strategy for major markets today (0101-KQHZ-C01)

EUR/USD - Upside bias to EUR continues helped by big EUR/JPY flow and reports that ECB is unlikely to introduce tiering. Scope to 1.1350 area with break above 1.13 likely to trigger some covering of shorts.

USD/JPY - Another 49-year low in US jobless claims boosts the USD and risk appetite and provides a bid to USD/JPY. Upside bias continues helped by reported M&A flow and strong Chinese money growth, and break above 112 now looks achievable

EUR/GBP, GBP/USD - GBP implied volatility has collapsed as Brexit deadline has been extended to end-October. Market now assuming "no deal" is off the agenda, but GBP still looks vulnerable against the EUR as political risk remains high.

DJIA and S&P - Strong Chinese money and credit data lending a strong bid to the market. Financial sector earnings data now awaited

T.Bond - UST buyers caught slightly offside, could see yields finish near the week/range highs in the belly.

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