Trading Video: Yellen Testimony and UK CPI Mark GBPUSD for Volatility
• Event risk fills out starting with this sessions UK CPI, Fed Chair Yellen testimony and BoJ decision
• There are a number of Dollar, Pound and risk-based opportunities; but impact depends on the scenario
See volume behind the majors during the NFPs and ECB rate decision to gauge your trading approach using the free FXCM Real Volume and Transactions indicators.
The new trading week opened with a measured correction to last week's broad retreat for risky assets. Yet, the true moves will likely be reserved for upcoming event risk. Looking to the economic docket, we have such heavy-hitting listings as Fed Chairwoman Janet Yellen's semi-annual testimony, UK CPI and the BoJ rate decision. These will have a certain impact on interest rate expectations for their respective currencies - and they may even tip the underlying balance between risk and reward. We discuss the upcoming event risks, the bearings for speculative appetite, gold's spat of volatility and trade opportunities in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.