an extremely dull monday with some movement in Cable

As expected, it was a completely dull trading day yesterday! We did see a little bit of dollar strength against the sterling and Aussie.

The Euro was a bit of a bore as well. We did hear news yesterday of Moody’s downgrading Greece to B1 with a negative outlook, but didn’t really see the Euro reacting to it. 1.4020 seems to be holding up strongly here as we saw Euro push up but by the end of the session came down to 1.3970.

Cable on the other hand dropped to just below 1.6200. This slip was mainly due to an announcement that Ben Broadbent will replace Andrew Sentence on the MPC.

Again today, we’ve got a quiet line-up of data. So keep a watch for key technical points and ears open for any news that could move the market. Doesn’t seem like we will be seeing much action during the Asian session, so lets see what happens when Europe opens.

Data Today

German Factory Orders - 11am GMT

Happy Trading!

FxTaurian