Market Update

Market is quiet due to holidays

Very rangebound markets yesterday with a lack of data. Today will be the same, except for the Canadian CPI figures.

JPY crosses tested the lows yesterday, but reversed strongly higher. Tomorrow’s BoJ Target Rate will be very important for these crosses. Nothing is certain yet.

Beware of unwinding in EM crosses and risky assets, if the JPY surges higher.

European stocks testing the upper band of bull channels. Upside is limited per unit of time. Time for a discretionary short-term trade.

Many bank stocks are reporting earnings this week in Europe, which could be a bearish catalyst.