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USD in bias divergence with Higher EUR and GBP

USD consolidated overnight in bias divergence with higher EUR and GBP. But the slightly weakening of JPY and CHF, higher US stock market and steady UST yield (10 years UST yield at 2.96%) and pricing for Wed FOMC hike rate 0.25% will still support the USD overall. G7 meeting outcome as expected with divergence for Trump with other six members with market nothing much surprising move. Tomorrow Trump/Kim meeting and steady risk sentiment ahead of the meeting will be seen. BOJ meeting at Friday expects keep rate and policy stance unchanged with widening yield spread still favour carry trade for USDJPY and JPY cross in short term.

Thursday’s ECB meeting and due to hawkish ECB member speech from before, this meeting might risk for some announcement for end of QE and EUR will still be supportive before the meeting.

Today UK Industrial/Manufacturing Production and trade balance data will have some impact for GBP and GBP cross.

No US data today and stock/bond market move as well as risk sentiment will dominate the intraday action.

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    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.