FX Handover: Consolidation on G20 Eve

A summary of news and snapshot of moves ahead of the US session.

·         As US investors enter the fray, they will release that they have not missed much in FX. Indeed, the small bodies of the candles above clearly point to indecision and/or consolidation. This is not a surprise ahead of a major event: G20 summit, which gets underway on Friday

  • The Daily ATR values are all below their average over the past 10 days, again pointing to a quiet and consolidative session.
  • Clearly heightened volatility is evidenced elsewhere: Bitcoin and other cryptos and stock indices, markets available for mainly our non-US clients.
  • As far as today’s session is concerned, FX investors are looking forward to German CPI and final US GDP. Earlier, Spanish CPI came in well below expectations at 0.4% y/y vs. 0.8% expected and last.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.