EUR/USD is back to lows, falling as US equity futures open for trade for the week in the wake of the late Friday Paris news
If you're relatively new to the Forex markets it might be news to you that trading starts in Monday well before many trading platforms open.
A look at the morning's trade:
EUR weakness is not just about the Paris attacks.
The EUR selling comes with the background of the ECB looking to ease further in December, while market consensus is well advanced in the direction of looking for a Fed 'lift off' rate hike, also in December.
Rallies in EUR/USD are thus presenting as sell opportunities.
From here for EUR/USD, we will be running into technical support soon enough, 1.0675 or thereabouts shaping up as a level (technical analysts, comments welcome) ... it does look heavy though.
EUR/JPY has been hit hard today also, with 'risk aversion' flows into the yen helping that cross lower. Japan GDP is on the boards for 2350GMT, so note that.
