Major pairs steady in early interbank trade
- Doesn’t look like there were any big stop-loss orders close to the market as the majors are trading quietly near their closing levels from Friday;
- There were no big developments over the weekend and we can expect the market to stay in consolidation mode ahead of tomorrows US NFP;
- US yields continue to drift lower in expectation of a delayed or reduced ‘taper’ after the short government shut-down;
I expect this USD bearish sentiment to prevail in the medium term but we will need to watch the individual markets closely for short-term sentiment. Good luck this week.