How is the open shaping up?
The US dollar slumped on Friday after a soft UMich consumer confidence survey but early indications are for little follow through at the open. Instead, the pound is indicated weaker.
- EUR/USD +3 pips to 1.1794
- USD/JPY +12 pips to 109.69
- GBP/USD -26 points to 1.3837
- USD/CHF -6 pips to 0.9154
- USD/CAD +7 pips to 1.2520
- AUD/USD -1 pip to 0.7368
- NZD/USD +2 pips to 0.7039
I would put a big caveat on that GBP/USD number until liquidity picks up because I don't see any relevant UK news. All the headlines are about UK parliament being recalled over Afghanistan and Tottenham stunning Man City.
Here was how the daily cable chart looked at the close on Friday:
