Forex Market News
Some recent trends are trying to end, Euro/Cable. Whilst some are still running, Yen/Kiwi. As the Loonie and Aussie break out and start trending. That was the order of the things running into the close of last week. I see this attempt of reversal in Cable/Euro continuing for a day or two this week. The big story this week is/will be the FOMC on Thursday morning. The market will be wary of it prior to the news but should gleefully spur the greenback again after it, thereby forcing the Euro lower. The cable may go with it, but that depends on the Scots. They have their vote this week too, Friday. I dare say, being too close to call as they say in the news, that we won’t know the result until the following week. However, a break would suggest further downside for the Cable, and if they decide to stay a part of the Kingdom then I would expect a decent rally for the sterling.