Jul 052016
The GBP remains weak after the Brexit referendum, at the lowest levels in 31 years against the USD. Oil is down after a rise in June production from OPEC countries. Stocks continue to follow oil’s lead. There’s no significant data released today although traders may give the 10:00am Factory Orders some attention. Volatility has been shrinking as the ES approaches its all-time highs and unless the bears gets some traction, I expect volatility to shrink even further. Size bias is short into the US session open.
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