There is no opening trade call for today and in general we expect a quiet session. Looking ahead we have Manufactruring PMIs from Europe. If you wish to learn more about today’s risk events watch my video here. Otherwise read my short analysis of current market sentiment bellow.
Current Market Sentiment:
The Asian session saw Caixin Manufacturing PMI from China for the month of September come in below estimates at 47. This is the lowest reading for 6.5 years. The reading increases already present concerns over a slowdown in China. The AUD was hit by the miss with Aussie dropping 60 pips, meanwhile the yen saw safe-haven demand with USDJPY also dropping 60 pips. AUDJPY fell over 100 pips after release. Whether the safe-haven bid remains is uncertain, but European equities and bonds may provide a leading indicator.
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Source:: Market Sentiment 23rd of September