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Forex: EUR/USD Range Untouched by House Debt Approval, Apple Earnings

Forex: EUR/USD Range Untouched by House Debt Approval, Apple Earnings

John Kicklighter, Chief Strategist

If EURUSD and its risk-sensitive counterparts were looking for a catalyst for a sentiment-based move, the opportunity was presented this past session. For the risk and yield seekers, the market's number one concern - a US budget standoff - found a critical break with the House of Representatives approving an extension to push the countdown back to May 19. Yet, neither EURUSD, yen crosses nor the equities markets responded with strength. Were the markets more sensitive to risk aversion, the disappointing Apple earnings, IMF growth downgrades and Bank of Spain outlook would have triggered a slide. Yet, none of this would translate into progress and trend. In today's video we discuss what the markets may be waiting for and how we should trade under these conditions.

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