US Market Wrap
The threat of war appears to be on hold for the time being, as tensions between the US and Iran have eased.
The SPX managed to regain some strength as traders and investors around the globe took a deep breath as fear has subsided for the time being.
Once again data is a little thin on the ground as we move towards what is in many ways the first major trading week of the year.
The main events of note today, will be the BOE’s Carney and BOC’s Poloz speaking during their respective sessions.
While there is some second-tier German trade data out which has the potential to impact the EUR/USD.
But again, it will be market sentiment that is the key driver of today’s session.
Forex Signal Update
The FX Leaders Team finished with 1 win from 4 signals as most markets sharply reversed.
NZD/USD – Active Signal
The NZD/USD has held up well in the last 24 hours and appears to be putting in a base. Let’s remember that the trend is up at the moment and we have simply had a pullback. We remain long.
USD/CAD – Active Signal
The USD/CAD has had a pullback in line with the fall in oil. We are short looking for that weakness to come back in.
The rally in BTC might be coming to an end as price has pulled back under the $8,000 level.
A lower high under $8,000, might be a good trade to look for in what could be a nice short position.