An up-swell in market sentiment defined the G10 FX space at the start of the trading week. The anti-risk Japanese Yen slumped while at the opposite end of the spectrum, the Australian and New Zealand Dollars powered higher. The chipper mood appears to be follow-on momentum after Wall Street finished Friday with record highs recorded for US equities benchmarks.
Risk trends may continue to define near-term price action amid a lull in top-tier scheduled news flow. Futures tracking the baseline FTSE 100 and S&P 500 indexes are pointing convincingly higher, hinting that a rosy outlook will continue to predominate. Absent an unforeseen headline that spoils the party, this ought to see trading patterns seen in Asia Pacific hours extending into European and North American trade.
A speech from Bank of England Governor Mark Carney seems to amount to the only eye-catching bit on the economic calendar through the rest of the day. The central bank chief has been far more cautious about signaling near-term stimulus withdrawal than some of his colleagues, meaning whatever he says might encourage the British Pound to correct lower following last week’s explosive gains.
Asia Session
European Session
** All times listed in GMT. See the full DailyFX economic calendar here.
Â
