Obviously this week is all about Thursday.
Elections in the UK, Comey testimony, and the ECB. We got a temporary reprieve from the psychological burden of having to wait four days to know our fate when Qatar stole the spotlight on Monday. But then again, that's only an accurate assessment if you believe geopolitical turmoil counts as a "reprieve" from other geopolitical turmoil.
In any event, the market began to slowly turn its attention away from Doha and towards Thursday's terrible trio during the overnight session with risk-off sentiment manifesting itself in the usual place: USDJPY, which hit a six-month low:
As we wrote on Sunday evening, "there are some potential land mines out there and it’s pretty clear that in all cases, FX will be the transmission mechanism be it in sterling, the euro, or, in the case of Comey’s testimony, USDJPY."
Well on Tuesday, former FX trader Richard Breslow is out with his take on what's coming. Read his full note below...
There seems to be a furious debate raging about just how momentous Thursday’s slate of news on hand is going to be. Correctly anticipating what will move markets and in what direction hasn’t been an
Please support this website by adding us to your whitelist in your ad blocker. Ads are what helps us bring you premium content! Thank you!