Today was another light economic calendar day, the real drive for the market was the sentiment, especially the 1st Presidential debate for USA.
The result was a win for Clinton, which is a positive sentiment for USA and the world - so equity markets all went up.
We also had a good US consumer confidence number which also helped the USD.
Other than that, the market is worried about the Destuche bank and sold off EURO.
OPEC meeting was once again, no result as Iran pulled out of the deal with Saudi and WTI went down for the day. So does CAD.
Other than CAD, other commodity currencies all went up due to risk on sentiment.
It is very light week for economic calendar, however, we do have many comments from central banks which might be a surprising drive later on.
All EURO pairs went down today as mentioned, the market sold off EURO due to worry for Dustbhe bank.
All GBP pairs went up due to the help of risk on sentiment, and it might continues as long as the sentiment keeps going. Even though the outlook for GBP fundamentally is still negative, however, the recent fundamental datas have been good and GBP still has better interest rate than JPY, EUR & CHF, at least for now.
All safe heaven currencies such as CHF & JPY & EUR & USD were doing not well in this risk on sentiment, however, USD is always an exception because of the fundamental bullish strength, JPY also performed much better than CHF and EUR.
CAD was actually doing well regardless of the down day for WTI and negative news from OPEC, the risk on sentiment from Presidential debate apparently had much stronger momentum for CAD and it went up against all safe heaven currencies including USD.
Personally i don’t have much faith in CAD not only due to the OPEC meeting, but also the fundamental datas for Canada itself hasn’t been really good lately. We might even see another cut in the interest rate in the near future.
The sentiment seems to turn on now and we can once again be more confident to buy high interest rate commodity currencies such as AUD & NZD against safe heaven currencies.
Today was another light economic calendar day, the real drive for the market was the sentiment, especially the 1st Presidential debate for USA.
The result was a win for Clinton, which is a positive sentiment for USA and the world - so equity markets all went up.
We also had a good US consumer confidence number which also helped the USD.
Other than that, the market is worried about the Destuche bank and sold off EURO.
OPEC meeting was once again, no result as Iran pulled out of the deal with Saudi and WTI went down for the day. So does CAD.
Other than CAD, other commodity currencies all went up due to risk on sentiment.
It is very light week for economic calendar, however, we do have many comments from central banks which might be a surprising drive later on.
All EURO pairs went down today as mentioned, the market sold off EURO due to worry for Dustbhe bank.
All GBP pairs went up due to the help of risk on sentiment, and it might continues as long as the sentiment keeps going. Even though the outlook for GBP fundamentally is still negative, however, the recent fundamental datas have been good and GBP still has better interest rate than JPY, EUR & CHF, at least for now.
All safe heaven currencies such as CHF & JPY & EUR & USD were doing not well in this risk on sentiment, however, USD is always an exception because of the fundamental bullish strength, JPY also performed much better than CHF and EUR.
CAD was actually doing well regardless of the down day for WTI and negative news from OPEC, the risk on sentiment from Presidential debate apparently had much stronger momentum for CAD and it went up against all safe heaven currencies including USD.
Personally i don’t have much faith in CAD not only due to the OPEC meeting, but also the fundamental datas for Canada itself hasn’t been really good lately. We might even see another cut in the interest rate in the near future.
The sentiment seems to turn on now and we can once again be more confident to buy high interest rate commodity currencies such as AUD & NZD against safe heaven currencies.