Forex - Psychology/Strategy for major markets today

 18:38 (GMT) 23 Apr

  [Forex Strategy]

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

EUR/USD - Tested below 1.12 on Tuesday and reached within 20 pips of the lows of the year at 1.1176.  Should get some support from the IFO survey on Wednesday which might mean the lows hold in the short run, though downside risks dominate this week.

USD/JPY - Continued positive risk sentiment tending to weigh on the JPY, but 112 still proving a tough level to break convincingly, with positioning becoming more extended.

EUR/GBP, GBP/USD - GBP/USD slips below 1.30 and return of parliament after Easter break suggests some downside pressure continues as political uncertainty picks up. Weekend press contains increased talk of pressure on May to resign.

DJIA, S&P - Positive earnings seeing fresh highs tested, even health care looking past policy worries.

T-Bond - Strength in housing data plays to fading the UST short end / belly strength through supply ahead of GDP.

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