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Both Japanese yen and British Pound are slightly down this Monday morning, the first one a courtesy of
a bit worse than expected trade balance numbers published during Asian session. The pound just suffers the consequences of very bad data from the last week.
Not much movement is expected today amid low trade volumes and US holiday but in my view the pound is getting ready to slide lower to its critical levels o 1.2380-40. If that doesn't hold we can easily see 1.2200 this week. Probably not today, but most likely EUR/USD will break below 1.0600 and eventually 1.0500. A quick look at GBP/USD 1H chart looks very encouraging for bears to brake this triangle and move the pair lower.
Fed Speaches Deja vu?
On another note this morning, Another Fed official said today that she is comfortable with rising rates because if you delay too long, eventually you'll be behind the curve. Maybe I'm crazy, but this is exactly what I remembered kept happening in November 2016. Every Fed speech mentioned rising rates. In other words, I think the Fed is preparing the markets for March rate hike, but nobody is willing to listen.
a bit worse than expected trade balance numbers published during Asian session. The pound just suffers the consequences of very bad data from the last week.
Not much movement is expected today amid low trade volumes and US holiday but in my view the pound is getting ready to slide lower to its critical levels o 1.2380-40. If that doesn't hold we can easily see 1.2200 this week. Probably not today, but most likely EUR/USD will break below 1.0600 and eventually 1.0500. A quick look at GBP/USD 1H chart looks very encouraging for bears to brake this triangle and move the pair lower.
Fed Speaches Deja vu?
On another note this morning, Another Fed official said today that she is comfortable with rising rates because if you delay too long, eventually you'll be behind the curve. Maybe I'm crazy, but this is exactly what I remembered kept happening in November 2016. Every Fed speech mentioned rising rates. In other words, I think the Fed is preparing the markets for March rate hike, but nobody is willing to listen.
