Themes

• General mood is “risk off”
• Fed may raise fund rate up for about 75 bps, the market is extremely fear, and US dollars Index surge and closed above 105.00.
• With mostly less than expected prints from UK, cable touched as low as 1.2100 during the last trading day.

What’s Moving

Most major currencies down during the last trading day, with risk off sentiment causing US dollars up.

Crude oil still follows the upward trend but cannot clear the way after it broke 120.00.

Gold gave up all the gains after it failed to break 1878.00, later it found the support around 1808.00.

Thoughts

After the big move in the most recent NY session, calendar is relatively light during this Asian session. With CPI coming from Germany, and ZEW Economic Sentiment from Eurozone. Expecting most pairs follow technical before the UK session.

Keep an eye on the following event coming soon:

• German Final CPI
• ZEW Economic Sentiment
• US PPI

Pivot Points