Trading Range

Currently Euro and Cable are range bound. The Loonie has dropped considerably again and in my opinion the downslide will have to come to a support level soon.

The Chinese market maybe having an increase in stamp duty on stock trades later tonight and if that is the case and as a result there is a sell off on the EURJPY and GBPJPY then this could provide momentum to the EUR USD and GBP USD.

Other than that it is fairly quiet on the FX markets. On a side note, the S&P is just short of previous all time high.

Good luck for Wednesday.