(MENAFN- DailyFX) DailyFX.com - r>
Talking Points:
• EURUSD tumbled earlier this week to return to its dominant bear trend USDJPY played out a clear pattern
• Neither of these enticing moves is likely to generate follow through though due to heavy event risk
• The British Pound may be able to leverage UK GDP but the pair chosen is important
Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's educational webinars updated speculative positioning measures trading signals and much more!
Both equities and the Dollar put in for another drive this past session but how much momentum can these trends muster The S&P 500 has recovered more than 70 percent of its nearly 10 percent correction and the Greenback is less than 100 points from retaking its four-year high. Yet the same fundamental drivers that are most capable of projecting these trends are facing heavy event risk and uncertainty of favorable outcomes. In fact risk trends the Dollar Euro and Yen are all deer in the economic docket's headlights - possibly finding themselves unable or unwilling to move until next week. One possibly unencumbered currency through the final session though may be the British Pound with today's UK 3Q GDP release. We discuss what to watch and what to expect in today's Trading Video.
Sign up for John’s email distribution list here.
original source
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.