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USDCHF Faces Highly Volatile Week
There is rarely any week like this one with triple risk events where extreme volatility in the US dollar is expected. Short-coverings over the past few days suggest investors’ positioning in anticipation of a new catalyst.
While the US election may produce wild whipsaws overnight, the Fed’s policy meeting and ensuing jobs data are more likely to weigh in on the next direction. Dovish guidance and poor labor performance could keep the greenback subdued as they would hint at more easing down the road.
The pair has bounced back from the psychological level of 0.9000. A rally above 0.9300 could push the price towards 0.94s.
EURGBP Drifts Lower Ahead of BoE Easing
With little chance of a breakthrough in the trade negotiations, markets have turned their attention to the Bank of England’s upcoming policy decision. The UK is on the brink of following its European peers into a second lockdown.
Policymakers may issue a rather gloomy outlook of the British eco...
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