n the afternoon U.S. session the markets saw Usd/Cad reverse course ahead of the other majors, and repay all of the pips stolen in the short-dollar rampage from earlier in the European session. The other commodity based mover, Aud/Usd has yet to reverse course, nor as yet have the European pairs.
Forex traders saw divergence in trade on Tuesday, between the pattern of no moves in Europe and mainly U.S. based breaks that we have seen in trade for over a month. Today bought only European based moves that did nothing more than just hang on in Wall Street trade. The second divergence was between equity percentage moves and the dollar. The trend has been for the major pairs to be lead by equity trade, something that has been in place for six months. Although one swallow does not make a summer, this is the first day in what seems like an eternity that the major pair moves have not been dominated by equity market trade.
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