Trading Video: GBPUSD and EURUSD Traders Ready for BoE Report, Greek GDP
• Risk measures - equity indexes, yen crosses, volatility, etc - moderated heading into heavy event risk
• The British Pound is looking at the most pointed round of event risk lead by the BoE's Inflation Report
• Starting a growth update that will carry through to Thursday, Greek 2Q GDP is set to roust the Euro
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Rebounds for both global equities and the US Dollar stalled this past session in reverence for heavier event risk dead ahead. Yet, among the high-profile scheduled listings, is there enough fundamental authority to tap deeper market currents: namely global appetite for yield or the broader rate forecast? The disparity in various 'risk' measures and the stubborn elevation of volatility readings reflects a market more sensitive to changes in the financial system's temperament. Even if we fall short of altering the tides on global sentiment, event risk like the BoE Quarterly Inflation Report, Greek 2Q GDP and Chinese retail sales can generate trend changes for particular currencies and markets. We sort through the upcoming risk 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.