Potential Opportunity To Short Cable

Posted On 05 Jan 2016

Tag: USD

There is no trade call for the session as we await new data. A miss on UK data may provide an opportunity to short Cable, depending upon the extent of any deviation.

Current Sentiment:

The dollar index continued to rally in yesterday’s NY session moving up 1.2 points from lows.

Today’s Asian session was light with no economic data and subdued price action. Asian equities, the yen and antipodean currencies have all stabilised following yesterday’s risk-off moves.

Ahead we are looking out for Construction PMI from the UK where another miss following yesterday’s Manufacturing PMI may see further downside in GBP. Also important is CPI from the Eurozone which may cause a sentiment move in euro if the core readings are much higher or lower than expected. Watch the weekly risk event overview here to learn more about these releases.

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