Forex Today: Risk-Off Sentiment Dominates –

In the Forex market, the US dollar is clearly the strongest currency, while the commodity currencies (especially the CAD, AUD, and NZD) look weak. There are likely to be day and possibly swing trading opportunities in these currencies in the direction of the USD today.

  • Bitcoin and most other cryptocurrencies continue to look weak and heavy after their sharp, sudden falls last week. Trading cryptocurrencies short may be a profitable strategy this week.

  • There are no high-impact data releases scheduled today – due to this and the fact it is a Monday, price movement in the Forex market is likely to be slight today.

  • Last week saw the third consecutive weekly fall in global new confirmed coronavirus cases after over 2 months of weekly rises, suggesting the current wave driven by the delta variant may have peaked.

  • It is estimated that 41.8% of the world’s population has had at least one dose of a coronavirus vaccination.

  • Total confirmed new coronavirus cases worldwide stand at over 225.4 million with an average case fatality rate of 2.06%.

  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Australia, Austria, Barbados, Belarus, Bosnia, Cambodia, Costa Rica, Croatia, Egypt, Latvia, Lithuania, Moldova, Philippines, Romania, Serbia, Singapore, Slovenia, and the U.K.

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