Monday January 9, 2017 - 10:13:27 GMT
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Trade is off to a typically sluggish Monday start today. December U.S. employment data released on Friday were mixed, but did nothing to derail the prospects for a Fed policy tightening this year. The markets had already priced in a mid-year hike with 100% odds. This outlook is giving the USD a positive fundamental bias.
Today's EURUSD range has been confined to a HOD of 1.0557 and a LOD of 1.0516. That puts the 1.0550 and 1.0500 psychological levels into play. 1.0521 is minor support. A weaker GBP on Brexit remarks by PM May has EURGBP is trading higher. May took a hard line on British control of immigration. The EURGBP cross can often tip the scale in EURUSD activity, especially when markets are looking for a trading theme.
Tune in frequently to the GVI Forum for trading insights as the session unfolds.
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