Market Sentiment 24th of September

There is no trade call for the London open. Looking ahead we have few non major risk events: German Ifo Business Climate, ECB Targeted LTRO, US Core Durable Goods Orders, US Unemployment Claims and Fed Chair Yellen Speech. As usuall you can recap those events by watching my weekly risk events overview here. Otherwise read my short analysis of current market sentiment below.

Current Market Sentiment:

Yesterday’s NY session saw commodity currencies hit as WTI fell nearly $3. This was after the DoE oil inventory data showed a smaller drawdown than the prior day’s API figures and a larger than expected build in gasoline. USDCAD made fresh highs, breaking above the 1.3350 level. Current prices in the pair have not been observed since 2004.

In Asian trade, Japanese traders returned after a 3-day break. driving the Nikkei lower. Accordingly, yen pairs followed suit, with AUDJPY dropping below the 84 handle.

Trade balance from New Zealand showed both imports and exports decreased marginally from the prior month. Meanwhile Fonterra lifted its milk payout to dairy farmers, which gave the Kiwi a small boost. AUDNZD has retraced 250 pips from recent highs and sits just above the 1.11 handle. The pair is at a good buying level from a monetary policy divergence perspective with the RBNZ due to cut again this year and the RBA most likely on hold til 2016.

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Source:: Market Sentiment 24th of September

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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