Have EURUSD and GBPUSD Confirmed Reversal ahead of NFPs? |
As expected, the ECB and BoE rate decisions encouraged substantial volatility from Euro and pound-based pairs. Yet, also as expected, the follow through on outcomes that were largely priced in leaves us to question the conviction in follow through. Moving away from the yield/return side of the conversation (which has faded over the past six months); the market quick returns to risk and the fear of a global financial crisis. This shift plays nicely into the second round event risk in Friday's US non-farm payrolls. |
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