Today has been really quiet. I thought yesterday was quiet but today is worse. The ranges in most major forex pairs are as tight as 20-30 pips, apart from the GBP and AUD pairs. I guess we got spoiled recently with all those enormous moves.
I thought that perhaps the US unemployment claims would spark some volatility, but no. They came out 15k below expectations, yet the market totally ignored it.
If you have noticed, the economic data has lost importance lately since Trump came to power. The effects of the global trade war that Trump is initiating are much greater in the long run than some miserable everyday numbers. We´ll take a deeper look into this in another article, though.
The Saint Louis FED president, Bullard, will be up shortly so hopefully he will provide us with some action. Donald Trump is also on the agenda today; he has a meeting scheduled with the airline industry representatives and a few calls with some of the Gulf countries.
There´s lots of history between them 😉
Talking oil prices and airline fares might get the forex market interested or panicked. Either way, the volatility will pick up if we get some strong words from the "Man on the job".