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Flash: Macro trade positioning– JP Morgan

FXstreet.com (London) - JP Morgan have offered their opinions to be positioning selectively for further deleveraging of short-term speculative positions and longer-term bond positions following the biggest rise in interest rate volatility in 2-1/2 years and spillover to more unstable equity/FX conditions, but say to avoid big positions due to payrolls coming up at the end of the week and unattractive entry points. They suggest selling AUD and IDR vs USD, buying CHF vs EUR and USD.

European equities drop Monday

The European followed Asian indices downward Monday, as rumors still abound as to the inevitable decisions surrounding the US federal stimulus program. Without any meaningful drivers in today’s session, most stocks have traded with a slight manner of tepidness ahead of more widespread decisions.
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EUR/USD eases to 1.3010/15

The shared currency is now returning to the area of 1.3010/15 on Monday, after market participants digested the auspicious manufacturing PMI prints in May...
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