Barely any decent flows seen, so might be better to sit this session out. Instead of the usual note, let's end the week with a "lesson" on finding what might be in play during the day. This can be a daunting task in FX, given how flows can pass through crosses and not just the majors. One easy way to see whether one particular currency is in focus or not, is to view on one screen the price behaviour of the main trading partners. So below are the two "screeners" that make most sense to me today. The market has it's eye on Aud and Gbp.
It seems that Gbp has more upside, given the "less dovish BoE" yesterday.
Instead, Aud is in focus but less certain. It's trying to rotate off the recent lows but my personal bias still remains neutral until we see more trendiness on one side or the other.
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