The changes among dollar pairs are relatively light, with USD/JPY continuing to stay in focus amid the volatility and swings. The pair dipped towards 152.00 in trading yesterday before recovering back to 153.70-80 levels currently. There were some light swings in Asia and one can expect more before the close today.
In terms of data, there won’t be much in Europe to shake up market sentiment. All eyes instead will turn towards the US PCE price index later in the day.
Besides that, investors will stay fixated on how equities are going to fare once more. There was much volatility in Wall Street yesterday but tech shares ended up worse off once again. On the week itself, the S&P 500 is down nearly 2% and the Nasdaq down a little over 3%. Both are eyeing a potential push towards their respective 100-day moving averages.
In the meantime, we are likely be in store for a more pensive session in Europe today. There’s only one minor release on the agenda as seen below.
0645 GMT – France July consumer confidence
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.
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