Euro, Pound and Yen all trading at key juncture before New York session awaiting the volume and usual volatility which might lead to a critical break against Dollar.
Global financial market turmoil posing significant threat to Federal Reserve's ambition over rate hike, especially as early as September. Though FED hasn't pointed to any particular meeting but according to analysts and economists, September was considered as most likely.
- Euro is currently trading at 1.149, just below critical and psychological important 1.15. Increased volume might lead to a break tonight.
- Similarly, Yen is currently trading at 120.1, just above critical 120 support for Dollar. A further break could lead it towards 119 and beyond to as low as 116.
- Pound is at critical resistance and its recent range ceiling at 1.572. Though 1.572 remains resistance level it might face large offers till 1.575.
Further turmoil, especially in the stock market will be a key driver, since Yen would find further safe haven bids, while Euro will benefit from further carry unwinding.
S&P500 future is currently trading at 1932, down 2.1% today so far.


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