Here’s where to expect gaps at the markets opening

With the failure of the G7 FX meeting, the market will record sharp movements with the opening of the markets at 00:00. As during the weekend the biggest friction between the US and Canada was, the USD/CAD will start the week with the biggest change. The pair will open nearly 60 pips higher at a price of around 1.3000.

Here are the specific figures for the main currency pairs:

EUR / USD 1.1778
USD / JPY 109.28
GBP / USD 1.3394
USD / CHF 0.9854
USD / CAD 1.2992
AUD / USD 0.7587
NZD / USD 0.7022

The calendar for the Asian session remains empty from major economic news, and Australia’s holiday day will lead to a thinner market with which we should be compliant. In view of the bad end of the G7 meeting short-term sharp movements are possible in both directions. It is good to remain cautious until the start of European markets when liquidity is normalizing.

Source: Bloomberg Pro Terminal

 Trader Petar Milanov

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