Home > Uncategorized > April 30TH Forex Trading Market Updates

April 30TH Forex Trading Market Updates

It’s been a very placid night of trading in the currency market with liquidity further constrained by the fact that Asian capital markets will be closed for most of the week due to Golden week holidays. Risk FX initially traded higher at the open but sentiment faded as equities turned red in morning European trade.

Based on the price action in the foreign exchange market this morning, investors are nervous about the busy trading week. With Chinese PMI numbers scheduled for release this evening along with the Reserve Bank of Australia’s monetary policy announcement, the risk is for more weakness than strength. Two major central banks have monetary policy meetings this week and both are expected to be cautious about the outlook for the global economy. A 25bp rate cut from the RBA has been fully priced in and there is a good chance the ECB will talk about the possibility of additional stimulus (rate cut or LTRO).


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