Markets await US data to get a better idea of rate cut path from the Fed.
Traders should note the tone of the Beige Book was reportedly downbeat (we haven't seen it yet!). This is weighing on USD albeit ever so slightly. Traders would remember this is where we also played a quick counter-trend bounce in USDJPY after being sellers (this was published as a free trade idea). We aren't interested in buying USDJPY today again though right away because we have no edge in front of NFP.
JPM downgraded China's growth and its stocks yesterday also for its clients.
Eurozone retail sales came in at -0.1% YoY (Year on Year) while the market was expecting 0.2%.
We think the best course of action is to be patient and wait for the data here.
What is moving markets (WIMM ) is meant to be a summary of what is likely to move markets in the day/s ahead provided by the OurInterest prop firm for our current and hopefully future traders. We provide mentorship, training and premium analysis of the markets for beginner trader and more experienced traders.
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