Article Highlights

  • No major reports released during Asian session
  • Nikkei up by 0.62% for today
  • German Ifo business climate index due
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No data? No problem! Not even the lack of top-tier releases during the Asian trading session was enough to stop several forex pairs from moving and filling in weekend gaps. USD/JPY started off a bit higher than its Friday closing price but is down 0.20% while EUR/USD is looking at a 0.29% gain so far.

It seems that the euro is taking the latest European banking sector stress test results positively, even though the report revealed that 25 banks have failed the evaluation. EUR/JPY is up 0.12% so far and is trading slightly above the 137.00 handle while EUR/GBP is up 0.18%.

Traders seemed to be in a risk-taking mood at the start of this trading week, as the Nikkei posted a 0.62% gain for the day. AUD/USD is up 0.19% while NZD/USD is holding on to a 0.27% gain as of this writing.

Whether this upbeat sentiment could carry on to the London trading session remains to be seen, as a few medium-tier releases could affect forex traders’ moods. The German Ifo business climate index is up for release at 10:00 am GMT and it might show a small dip from 104.7 to 104.6, with a weaker than expected reading likely to push the euro lower. Also up for release is the U.K. CBI realized sales figure, which might fall from 31 to 29 and lead to pound weakness.

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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