Morning market update 17 08 2021

#OPINIONLEADER#

By Scott Andrews

Morning market update 17 08 2021:

Last night saw an early risk off mood with the sell off in US equities this changed quickly mid session with strong buying. The DXY held side ways after it established a base at 92.50 with the NY Empire State Manufacturing Index (Aug) missing expectations coming in at 18.30 forecast of 29.00. Note worthy this week is the FOMC Meeting Minutes released at 02:00 GMT+8 on Thursday morning to help gain insights into what the Fed is looking for in order to get tapering underway. The delta strain of Covid 19 throwing up some issues it seems with the significant miss on the Michigan Consumer Expectations and Sentiment indicating highlighting this. EUR pairs are in focus on today’s currency call with the EUR releasing the GDP figures today at 17:00 then tomorrow it’s CPI time, therefore it will be well worth checking out what the team has to offer for trading opportunities. NZDUSD shaping up for a buy trade with the RBNZ rates decision out tomorrow morning at 10:00. This allows for price to react to the Core Retail Sales and Retail Sales for the US released tonight at 20:30, with a miss on expectations likely helping the NZDUSD bullish thesis.

USD index 17 08 2021: