Oct 19


  • BY: Donal Kelly
  • October, 19th, 2015 20:20 +00:00

Good evening,

This was a session with few opportunities for momentum strategies in FX major pairs.  EurGbp (-0.52%)  was one of the most volatile pairs, and violated the medium term bullish trendline generated 4 months ago. NzdUsd made a 23.6% Fibonacci retracement of the top to bottom bearish wave that lasted 5 months.  Energy commodities and metals are suffering the Chinese GDP data released last night and Crude is losing 1.27$ at 46.45 $/barrel (-2.66%). Gold is down 13.9$ at 1,169.2 $/barrel (-1.17%). Among minor pairs South African Rand is sliding against the Greenback, because the mining sector still weak. Elections in Switzerland did not trigger any gap last night on the Swiss Franc  and the Turkish Lira is losing against the US dollar after the rally of the last week.

US equities confirmed the mood that was seen on majors FX, and the S&P500 closed at 2,033.78 (+0.03%) after it spent most of the session in negative territory. on Tuesday at 01:30 GMT the Reserve Bank of Australia will release its Minutes and the Aussie dollar should increase its volatility.