USD Trading Outlook (22-10-2013)
Deathly quiet is probably the best way to describe the FX market over the last 24 hours. There is only minor Chinese data on the economic calendar so we’re unlikely to get any volatility from there. Tonight’s NFP is the next main risk event but even that is failing to generate much enthusiasm amongst traders so we must rely on a ‘black swanlet’ to get the markets moving again. Barrier protection in AUD/JPY will be the main talking point this morning. Positions amongst short-term players are at quite low levels so we do have scope for movement if something happens to entice them into some risk.
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