Red day in the US equities markets over night with the Australian session following suite this morning, the DXY is right at the major resistance level of 93.70 with speeches from Jerome Powell and Janet Yellen last night seeing an emphasis put on inflation and the upcoming debt ceiling date of the 16th of October stressed to be a major negative issue for markets if not resolved before then. The GBP saw significant selling yesterday as the US session played out with the upcoming GDP out tomorrow at 14:00 GMT+8 for the GBP which will be discussed further in today’s currency call. Risk off senitment remains the theme for this week and should be in the back of mind when looking to take trades on the risk sensitive pairs such as the AUDUSD.
Scott Andrews is an Australian based trend and swing trader using the daily, 4 hour and 1 hour time frames. He has previously worked in China as a performance coach for their Winter Olympic Team at the time refining his trading skillset. and runs a YouTube channel discussing his thoughts on markets as well as being the Account Manager (Australia) for ForexBriefcase. Recently Scott took on the role as Trading Coach for LCMS Traders.