Trading Outlook – Neutral
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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.
Fundamentals:
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.
Technicals:
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.
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