18 Oct: Trend table outlook for FX, Commodities, Indices

By | October 18, 2019

The US$ is lower on Friday and seems to have further downside ahead of it, so buying dips in the major currencies (Eur, Aud, Nzd) currently seems to be the play. I would leave Sterling alone as there is likely to be some serious gapping on Monday, once the UK parliamentary vote has taken place, on Saturday.

Aside from the Sterling crosses and a weaker US$, both commodities and stocks look to be pretty much in neutral mode, so are probably best avoidsed today. Aside from some China data today (GDP, Retail Sales, Inductrial Production), it is pretty much an empty calendar so it would not surprise to see a very quiet session while awaiting tomorrow’s Brexit vote, which will then give the lead to risk sentiment early next week.