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EURUSD Still Lacking Trend after EU Summit, AUDUSD Ready ahead of RBA

EURUSD Still Lacking Trend after EU Summit, AUDUSD Ready ahead of RBA

John Kicklighter, Chief Strategist

If the EU Summit has cleared the air of the greatest fundamental threat to the global financial markets, why is there no follow through on the EURUSD and risk trends after the weekend? In the past, the capital markets have been sated by smaller programs that have lacked critical detail as there was a group effort to front-run government investment and the environment for volatility (risk) was curbed by stimulus. However, there was skepticism amongst the speculative ranks and financial media almost immediately after this EU Summit. Furthermore, there was no direct injection of funds into the system, only an open vow to curb volatility (risk). Do the markets need more? As we watch the markets struggle for direction, short-term traders should tune into the RBA rate decision.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.