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.

Key risk assets including GOLD and WTI fell away after President Donald Trump signalled no further immediate escalation in military action against Iran.

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.

Today’s Agenda

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.

Cryptocurrency Update

The rally in BTC might be coming to an end as price has pulled back under the $8,000 level.

Both GOLD and WTI have retraced sharply as tensions have eased for now and that appears to be what is driving this trade at the moment.

A lower high under $8,000, might be a good trade to look for in what could be a nice short position.