There’s absolutely nothing on the agenda today, so the markets will be mostly dominated by flows set in motion by the hot US NFP report last Friday and the European elections over the weekend.
We have a negative risk sentiment as the markets trade more cautiously into the US CPI and FOMC decision on Wednesday. The US Dollar came back with vengeance, the Treasury yields are up and the stock market is consolidating around the highs.
This is one of those days when it’s better “to go fishing”, but the momentum players will likely want to try to capitalise on the recent developments.
Stay safe out there!
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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