FXWW News/Open/Wrap

FX market now less predictable after yesterday’s change in tempo

We had a definite change in tempo yesterday during the Asian session and through early Europe with traditional risk trades like NZD/JPY (during the Asian session) and GBP/CHF (during European trade) experiencing some extreme volatility. Picking the type of market is just as important as picking the direction, and now we must wait and see if the volatility continues or not.

NZ trade data and the HSBC version of Chinese manufacturing PMI are the main events on the economic calendar and any follow-up to yesterday’s Chinese banking story will of course add to the volatility.

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