Order Flow Tells Us USD & JPY Rule In FX

The US Dollar and the Japanese Yen were the clear winners last week, while the Oceanic currencies and Gold were decimated. Sandwiched in the middle we find a group of four currencies (EUR, GBP, CAD, CHF) characterized by a far less acute imbalances of flows. US equity indices have been fairing far better, which helps explain the stalling in aggressive buy-side flows in the USD, JPY from earlier in the week. Fundamentally, all eyes will be on the first televised debate between Trump and Biden on Tuesday and the subsequent poll reactions. Should Trump come up ahead in the debate, that likely to be perceived as a … (full story)

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