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The Daily Edge is authored by Ivan Delgado, Market Insights Commentator at Global Prime. The purpose of this content is to provide an assessment of the market conditions. The report takes an in-depth look of market dynamics, factoring in fundamentals, technicals, inter-market in order to determine daily biases and assist one’s decisions on a regular basis. Feel free to follow Ivan on Twitter & Youtube.
JPY and USD supply flows were the common denominator as the environment tued ‘true risk on’ once again. Further diversification into riskier assets, including beta currencies, has clearly transpired, as the micro and macro slopes of the SP500 vindicate. Interestingly, global yields, taking the US 30-yr as a reference, while marginally higher, continue to exhibit a rather sluggish behavior. Short-term, the environment remains very positive for risk trades, especially for the Canadian Dollar, as it takes up the slack from a heavier Aussie, weighted by constant negative fundamentals in Australia (Westpac’s consumer confidence the last disappointment). Meanwhile, the dynamics around the Euro have been relatively benign, while the Sterling is flying as the UK secures, in theory, the rejection of a ‘no deal’ Brexit after Wednesday’s vote in the Commons.
EUR/USD: Buy-Side Flows Dominate On Brexit Delay Speculation
GBP/USD: Huge Volatile Swings The Norm This Week
USD/JPY: Trapped In A Range As Interest Elsewhere
AUD/USD: ‘Risk On’ Outweighs Aus Bond Yield Debacle
USD/CAD: Perfect Bearish Storm Sinks The Rate
Gold Resumes Its Bullish Trend As Intermarket Flows Align
AUD/JPY: Finds Decent Demand As ‘True Risk On’ Re-Ignited