There is arguably just one to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1600 level. It’s the same story as yesterday as the expiries here also intersect at the same level. The dollar is once again stronger today as markets are feeling a bit more nervous again on the US-Iran conflict. And that is the bigger driver of trading sentiment at the moment.
If anything, the expiries could play a small role in keeping price action more cagey around the figure level. But in all likelihood, the impact of the expiries is likely to be more muted. That as there are bigger forces in play to drive price action as we look to the day ahead.
Oil prices are back on the up and inflation worries are creeping back in, making for a softer risk mood as we approach European trading. As such, that is underpinning the dollar again so EUR/USD may look to keep below 1.1600 with the expiries helping to limit the ceiling in the session ahead.
But again, expect price action to be more prone to be driven by broader market sentiment and the dollar mood. That’s the main factor dictating the direction of price action at the moment.
For more information on how to use this data, you may refer to this post here.
Head on over to investingLive (formerly ForexLive) to get in on the know!
