{"id":153812,"date":"2019-08-19T09:30:34","date_gmt":"2019-08-19T13:30:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153812"},"modified":"2019-08-19T08:44:14","modified_gmt":"2019-08-19T12:44:14","slug":"risk-sentiment-rebounding","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/risk-sentiment-rebounding\/","title":{"rendered":"Risk Sentiment Rebounding"},"content":{"rendered":"
August 19, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

USD Higher on Monday<\/strong><\/h2>\n

USD has been a little higher this morning, although moves have been limited. The market is expecting a quiet session this week as mid-summer trading lulls kick in. On the data front, there\u2019s\u00a0little to note,\u00a0aside from Fed chairman Powell due to speak at the Jackson Hole Symposium on Friday. USD index trades 98.08 last.<\/strong><\/p>\n

Euro Fighting to Get Higher<\/strong><\/h2>\n

EURUSD has been slightly firmer against USD so far today. This is following a strong sell-off into the end of last week which saw price breaking down below the 1.1112 level.\u00a0Price is currently still below this level, and given the concerns around the health of the eurozone and the expectations for further easing from the ECB, further downside is likely in the near term.<\/strong><\/p>\n

GBP Down on Brexit Document<\/strong><\/h2>\n

GBPUSD has come under pressure once again today as the market reacts to the latest Brexit fears.<\/strong>\u00a0The\u00a0leaked Yellowhammer document<\/a>\u00a0highlights the government\u2019s concern over the potential impact of a no-deal Brexit which could cause huge disruption according to the projections made. GBPUSD trades 1.2118 last, with price sitting near channel lows still.<\/p>\n

Risk Assets Rally<\/strong><\/h2>\n

Risk assets have started the week on a better footing. Following Trump\u2019s comments on the solid progress being made in US\/China trade negotiations, the SPX500 has traded up off last week\u2019s lows to reclaim the 2908.55 level.\u00a0Price trades 1915.93 last.<\/strong><\/p>\n

Safe Havens Down as Risk Recovers<\/strong><\/h2>\n

Safe havens have been a little lower over the European session so far on Monday, given the better risk tone at the start of the week.<\/strong>\u00a0Both JPY and gold have traded lower against USD as the market once again attaches optimism to the ongoing trade negotiations. USDJPY trades 106.55 last with price still capped by the 106.77 resistance for now. XAUUSD trades 1498.72 last, as price continues the sell-off from the rejection at the 1522.75 level.<\/p>

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Crude Supported<\/strong><\/h2>\n

Oil prices have traded higher over the session so far also, though flows have been light.<\/strong>\u00a0The recent volatility around the US\/China trade story has calmed down for now and if we can see further positive headlines around negotiations, this could be good for oil. Crude trades 55.26 last with price sitting just off recent lows following the rejection at the latest test of the bearish trend line from July highs.<\/p>\n

High Betas Bounce Back<\/strong><\/h2>\n

USDCAD has come under pressure today.\u00a0Despite a higher USD, it seems that better risk appetite in light of supportive comments around the US\/China trade story\u00a0is keeping CAD supported.<\/strong>\u00a0USDCAD trades 1.3258 last with price having broken back beneath the 1.33 level.<\/p>\n

AUDUSD is trading on a better footing today also, albeit only slightly.<\/strong>\u00a0The consolidation around the .6758 level continues with price managing to remain above the level for now. Better risk appetite around the trade story is keeping AUD supported though the sell-off in gold is offsetting some of the positive impacts.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex USD Higher on Monday USD has been a little higher this morning, although moves have been limited. The market is expecting a quiet session this week as mid-summer trading lulls kick in. On the data front, there\u2019s\u00a0little to note,\u00a0aside from Fed chairman Powell due to speak at the Jackson Hole Symposium on Friday. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-153812","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=153812"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153812\/revisions"}],"predecessor-version":[{"id":153814,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153812\/revisions\/153814"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=153812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=153812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=153812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}