Originally updated: 07:30
Trading Bias: Neutral
Currency pair: None
Current Sentiment: Neutral
In today’s trading session I will be awaiting news flow to provide opportunities to get into the market as there is no clear sentiment at this point of the session.
The overnight session was relatively subdued as newswires were relatively light on market moving news, the Bank of Japan refrained from additional easing, although expect CPI to remain at 0% for the near future to energy prices. Overnight we saw some weakness on the AUD after the RBA Minutes which showed the central bank had considered additional rate cuts.
At this stage of the session, with limited news flow to present a reason to get into the markets I will be waiting for pairs to approach key levels of support/resistance and trade the overall trend in line with the fundamentals – this will of course be in conjunction with any news flow we have that provides the market with fresh sentiment and a reason to start getting involved in the market.
Other Market Moving News:
On today’s calendar we have German Zew Economic Sentiment, Canadian manufacturing sales, US building permits and the New Zealand GDT index later in the session.
To get daily market insights from Jarratt Davis delivered to your inbox simply enter your name and email below:
Source:: Trading Outlook – Neutral