The ingredients for more rangebound trading are all there – ING
Source Fxstreet
US markets re-open today after an uneventful Monday for global markets. Economists at ING markets’ outlook.
Markets unimpressed with China's rate cut
The US calendar is unlikely to be a big driver today. China is once again the focus as banks reduced their five-year loan prime rates by a record 25 bps to 3.95% overnight, the first move of this kind since June. This kind of monetary easing has a generally higher impact on the property market, but once again markets have shown little enthusiasm.
We favour a strong Dollar in the near term as US data remains supportive, but this looks increasingly to be the perfect recipe for range-bound trading.
In DXY terms, 104.00/105.00 may hold as a range in the short run.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.
The US and Iran exchanged direct fire again after more than a month, rapidly escalating shipping risks in the Strait of Hormuz and pushing international oil prices back above $90 a barrel
As of the Asian session on August 31, gold prices today (XAUUSD) extended last Friday's decline, briefly falling below $4,400 during intraday trading to hit a low of $4,396.36. Last Frida
Today’s Market Recap: Escalating US-Iran Conflict Pushes Oil Past $90, Warsh's Hawkish Remarks Boost Fed Rate-Hike Expectations, August Nonfarm Payrolls in Focus This WeekTracking Market TrendsTradingKey - On August 28, Eastern Time, the three major U.S. stock indexes closed lower across the board. Remarks by Federal Reserve Chairman Warsh at the Jackson Hole symposium
Tracking Market TrendsTradingKey - On August 28, Eastern Time, the three major U.S. stock indexes closed lower across the board. Remarks by Federal Reserve Chairman Warsh at the Jackson Hole symposium
Related Instrument
