The political fallout from the UK elections and the ongoing Trump/Comey saga, market participants need to monitor technology stocks after Friday's sharp sell-off in the sector in the markets. Any further sharp falls here could spook the wider equity markets and lead to a full-blown sell-off across the major global indices. This, in turn, could, for example, underpin safe-haven assets like gold and silver and undermine risk-sensitive forex pairs such as the USD/JPY and USD/CHF currency pairs.
The euro/Swiss franc (EUR/CHF) currency pair might not be the most important pair at the moment, but it could be on the verge of a potentially large move in the coming days and weeks. The forgotten pair recently came to life as it surged from around 1.0650 to around 1.0975 in a relatively short period.
Safe haven currency bets including the yen, the Swiss franc and to a lesser extent the Swedish crown rose on Tuesday as investors braced for a tensely-awaited speech to Congress by U.S. President Donald Trump.
The U.S. dollar hit a more than two-week high against a basket of major currencies today after U.S. inflation data boosted bets the Federal Reserve would raise interest rates in December, and touched a one-month high against sterling on worries over Britain's Brexit vote.
The U.S. dollar/Japanese yen (USD/JPY) currency pair went out of the red wave 4 triangle and down into wave 5 to lower levels. Currently, we are trading around potential resistance for the black wave 4 in the red wave 5 and we think one more push d