Solid US data made for a choppy market as traders returned from a long weekend. The Aussie dollar was tops while the Canadian dollar lagged. Australian CPI and the Chinese manufacturing PMI are major events in the hours ahead. Latest Premium Insights invilved 2 new trades in gold with 3 related charts, in addition to our longs in EURUSD, GBPUSD, USDCAD, USDCHF and AUDNZD. A new set of Premium Trades will be added Wednesday.
A measure of G7 FX volatility from JPMorgan fell to the lowest since 2007, in a concrete measure of what many traders are lamenting at the moment. But nothing points to impending volatility like a quiet market. Once complacency give way momentum traders erupt. EUR/USD is particularly quiet with only a 1.25% range in the past two weeks. A hint at change in the BOJ or ECB could get the pair moving.