Connor Campbell of Spreadex, joined Tip TV to speak on US-UK rate scenario and further offered the outlook for GBP/USD, EUR/USD, DAX and a few single stocks.
GBP/USD: Any sign of a US rate hike this year will see the cross resume downwards
Campbell notes that the movement in GBP/USD will largely depend on the FOMC rate decision on Thursday. A firm call on a rate hike in October or December will see the cross resume lower.
EUR/USD: Eurozone QE remains the key catalyst
EUR/USD exhibits the same trend as GBP/USD, says Campbell. He further says how his clients remain bearish on the cross. On the risks ahead for the cross, Campbell notes that the Eurozone’s stimulus program will be the key catalyst ahead. The pair sees selling pressure around 1.13-1.1350 area.
DAX remains a tricky trade
Campbell notes that there is no real consensus to trade the DAX and the index remains a nightmare, lurching from place to place on hourly charts. He further shares that the index sees sellers above 10150.
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