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G20 and top three majors recap - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Analysts at Westpac explained that the weekend Shanghai G20 statement included concern over market volatility and “Brexit” but as usual, no specific co-ordinated plans for action.

    Key Quotes:

    "FX markets showed no apparent reaction when markets opened in Sydney today.

    The US dollar made broad-based gains. EUR/USD started to topple over from 1.1060 in the London morning, with losses accelerating from around 1.1020 to 1.0920 after the US data.

    USD/JPY was fairly muted just below 113 until the US data, sparking a rally with few pauses to close at 114.

    GBP/USD rallied as far as 1.4042 in London but then joined the crowd, sliding as far as 1.3857, another low since 2009. A new opinion poll found 52% support for the UK to leave the EU and it is hard to imagine British voters will be swayed by the G20 expression of concern over “Brexit”."
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