Trading Analysis for Wednesday 15th November 2017
I still have my eyes firmly clamped to the FTSE250. It did start the reversal yesterday but then some sellers came along, and we are still risk-off. I will wait. Also I am watching the USDJPY moving down, for reasons I discuss in the video.
Yesterday, the USD drops to test resistance as the EUR rises. US equities drop intra-day then make a partial recovery. US 10 Year yield drops and the JPY strengthens. I am afraid we are solidly risk-off.
On the currency markets, notable moves are the EUR rise to resistance, driven my algorithmic trading and the AUD which drops on disappointing wage data early Wednesday morning.
Oil drops as the API data shows a huge stock build.
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