Forex - Psychology/Strategy for major markets today

 19:32 (GMT) 09 Oct

  [Forex Strategy]

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

EUR/USD - USD generally waiting for the outcome of US/China trade talks. EUR/USD one of the least sensitive to the outcome, but lack of progress could be expected to see gains to 1.10, while positive news likely to push below 1.0950.

USD/JPY - Looks to be pricing in a reasonably positive outcome of US/China trade talks, so lack of progress likely to trigger move towards 106, while gains above 108 likely to prove tough even if some progress made.

EUR/GBP, GBP/USD - 0.90/0.9020 area tough to break in the short term, but GBP downside favoured in the absence of a deal, which still seems very unlikely this side of October 31.

DJIA, S&P - CPI can provide a distraction from the trade focus, but still difficult to build any sustained direction ahead of the US/China talks.

T-Bond - USTs eye China talks, scope for risk bounce and yield range expansion higher if mooted limited de-escalation deal gets agreed.

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