We saw the Euro gap 50 pips on the market open this morning as news over the weekend that the SDP in Germany are now prepared to enter talks with regard to forming the grand coalition and news out of the US of the government shut down. Across the rest of the major currencies, it’s been a relatively quiet start to the week which followed on from Friday’s trading. Most of the currencies remain in familiar ranges although the sterling did come under some pressure on Friday after worse then expected Retail Sales numbers.
It looks like being a slow day ahead as the economic calendars are quiet with just the Eurogroup meetings taking place in the London session and Canadian Wholesale Sales numbers due out in the New York time zone. With geopolitical factors remaining the main catalysts for market movers at the moment, traders will continue to keep a close eye on the news wires for their next opportunities.
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