Predictably, it was a very quiet day yesterday with the US enjoying Independence Day.
Anything remotely marking moving came from headlines out of Europe, the first that ECB members were shifting towards a more hawkish tone and the second that the US was willing to find a compromise on auto tariffs.
Both of these headlines were released after London had closed for the day, however, and so the impact was limited.
The GBPUSD had a continuous bid throughout the day as it climbed to 1.3250 which was the highest in almost a month, the catalyst is still a little bit unknown but I would suspect that it may be on May’s Brexit plan that will come later this week.
We also have a little event risk today in the form of a speech from BOE Governor Carney.
I am going to be a little bit more cautious this morning as price action can often be a little unpredictable after a bank holiday but with the looming NFP tomorrow, I would probably look at the indices as my main pairs today.
Supplied by BlackStone Futures