{"id":155220,"date":"2019-09-11T09:30:21","date_gmt":"2019-09-11T13:30:21","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=155220"},"modified":"2019-09-11T09:00:26","modified_gmt":"2019-09-11T13:00:26","slug":"risk-appetite-consolidates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/risk-appetite-consolidates\/","title":{"rendered":"Risk Appetite Consolidates"},"content":{"rendered":"
September 11, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Most of the FX majors remain somewhat soft on the third trading day this week apart from FX safe-havens and the euro. With\u00a0risk flows halting<\/strong>\u00a0in the first half of the trading session, market participants seem rather restrained on asset options.<\/p>\n

Euro Weakens Ahead of ECB<\/strong><\/h2>\n

Market participants anticipate the ECB to dive into lower negative rates<\/strong>\u00a0on Thursday, eurodollar flows indicate. After all, Draghi convinced the markets that the central bank will do \u201cwhatever it takes\u201d to preserve the European currency.<\/p>\n

Euro is falling away from 1.1050 and towards the 1.1025 level against the greenback. Data showed that Spanish Industrial Production deteriorated from 2.5% expected to 0.8%.<\/p>\n

FX Safe-Havens Down on Easing Expectations<\/strong><\/h2>\n

The\u00a0Japanese yen continues being under pressure<\/strong>\u00a0as investors turn their back on the safe-haven asset on\u00a0expectations that BoJ will be easing policy<\/strong>\u00a0on their meeting next week. USDJPY had an array of positive sessions this week with investors now eying the 108 level.<\/p>\n

The Swiss franc, on the other hand, trades very similar to its homogenous consociate yen. USDCHF crossed above the 0.99 mark yesterday and continues moving higher this morning,\u00a0supported by somewhat stronger trade optimism.<\/strong><\/p>

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Pound Takes Break Above 1.2350<\/strong><\/h2>\n

With the latest political and economic developments in the UK,\u00a0GBPUSD remains at elevated levels<\/strong>\u00a0above 1.2350 this morning. UK wages and a better than expected unemployment rate have partially offset the multimonth decline. The other half was yet another\u00a0failure on British PM to call on a snap election.<\/a>\u00a0That was what\u00a0triggered positive flows<\/strong>\u00a0on cable at the beginning of this week.<\/p>\n

Risk Assets Also Mixed<\/strong><\/h2>\n

Aussie, Kiwi and the SPX look bullish in the short-term, however, any gains have now halted on\u00a0lack of news and economic flows<\/strong>. Crude oil\u2019s gains, however, were capped by\u00a0Trump\u2019s decision to fire John Bolton<\/a>, his national security advisor.<\/p>\n

AUDUSD received rejection after missing the 69 cents barrier again, NZDUSD stably trades above 64 cents and the S&P500 seems undeterred by policy easing headlines.<\/p>\n

Gold and Dollar Move Hand to Hand<\/strong><\/h2>\n

Surprisingly enough, today\u2019s session has both\u00a0gold and the US dollar moving higher consequently<\/strong>. It is probably an ECB related drop on euro allowing the dollar to move higher. This suggests that XAUUSD long is the only option for bulls looking for an alternative trading asset.<\/p>\n

Gold nears the 1500 level once again, as bears never really triggered sizeable shorts, and the dollar index (DXY) heads towards 98.65 after a rejection at 95.25.<\/p>\n

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

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

By Orbex Most of the FX majors remain somewhat soft on the third trading day this week apart from FX safe-havens and the euro. With\u00a0risk flows halting\u00a0in the first half of the trading session, market participants seem rather restrained on asset options. Euro Weakens Ahead of ECB Market participants anticipate the ECB to dive into […]<\/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-155220","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155220","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=155220"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155220\/revisions"}],"predecessor-version":[{"id":155223,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/155220\/revisions\/155223"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=155220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=155220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=155220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}