FX Handover: Consolidation on G20 Eve
Fawad Razaqzada June 27, 2019 1:11 PM
A summary of news and snapshot of moves ahead of the US session.
· As US investors enter the fray, they will release that they have not missed much in FX. Indeed, the small bodies of the candles above clearly point to indecision and/or consolidation. This is not a surprise ahead of a major event: G20 summit, which gets underway on Friday
- The Daily ATR values are all below their average over the past 10 days, again pointing to a quiet and consolidative session.
- Clearly heightened volatility is evidenced elsewhere: Bitcoin and other cryptos and stock indices, markets available for mainly our non-US clients.
- As far as today’s session is concerned, FX investors are looking forward to German CPI and final US GDP. Earlier, Spanish CPI came in well below expectations at 0.4% y/y vs. 0.8% expected and last.
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