Hi landre,
Im thinking of another probable scenario, june hike but change in dot plot by some members, meaning third hike lower probability.
This would be dollar bearish of course
We have PPI and CPI before that which are projected to be lower than previous month.
Given price action from ECB, seems Euro is in the mode where its just waiting for all clear from FOMC before flying up. I intepreted Draghi as dovish from last week and he was very careful to appear so, yet we didnt see the eur bulls folding, didnt even attempt to make new low.
I have some shorts from above 1.122 which will probably be stopped, but left as is in case of your scenario 2
Im thinking of another probable scenario, june hike but change in dot plot by some members, meaning third hike lower probability.
This would be dollar bearish of course
We have PPI and CPI before that which are projected to be lower than previous month.
Given price action from ECB, seems Euro is in the mode where its just waiting for all clear from FOMC before flying up. I intepreted Draghi as dovish from last week and he was very careful to appear so, yet we didnt see the eur bulls folding, didnt even attempt to make new low.
I have some shorts from above 1.122 which will probably be stopped, but left as is in case of your scenario 2