Forex - Psychology/Strategy for major markets today


 10:11 (GMT) 15 Oct

  [Forex Strategy]

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

EUR/USD - 1.10 providing good support for now, but USD likely to benefit if we see sustained improvement in risk appetite, though EUR less vulnerable than JPY and CHF.

USD/JPY - Move above 108 looking a little fragile, as US/China deal seen as less positive than hoped, but USD/JPY likely to hold close to 108 in the absence of news.

EUR/GBP, GBP/USD - Main attraction of a Brexit deal is to eliminate no-deal. Once that is done, GBP upside quite limited on a deal, as "Remain" hopes are also gone, so GBP upside looks restricted. EUR/GBP to hold above 0.8675.

DJIA and S&P - Partial US-China trade deal fails to impress. Eyes now turn to data, particularly retail sales on Wednesday, which needs to indicate that consumers are still fueling growth.

T.Bond - Equity gains may be needed for a move above 1.75%. Fed reserves move may keep curve leaning steeper.


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