FXWW News/Open/Wrap

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.

  1. Morning Sean,
    I was wondering, this weeks NFP has a lot of talk that it will be in the 160-180 range, so a good reading, but since the taper is not going to happen this year, and the debt ceiling issue is not resolved only pushed a few months, i was wondering will this NFP really make the markets move to much?

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