There are just a couple to take note of on the board for the day, as highlighted in bold below.
The first being for EUR/USD at the 1.1605 level. The expiries don’t tie to any technical significance but could help lock price action a little in the session ahead, though the impact is likely to be minimal. That as trading sentiment continues to be largely dictated by headline risks and the general mood surrounding the Middle East conflict.
The latest headline we’re seeing comes from Iran with its armed forces spokesperson saying that the US is “negotiating with itself”. That adds to the continued rhetoric from overnight already.
For now, markets are sensing some cautious optimism but we’re seeing the dollar hold a little firmer in the major currencies space. There’s still lots of back and forth going on so far this week, so just keep that in mind.
Besides the larger one for EUR/USD above, there are also notable expiries for AUD/USD at the 0.6950 and 0.6990 levels. That is currently helping to bookend the spot price and could help to keep price action more contained for just a bit. As mentioned above, there are bigger drivers of trading/dollar sentiment currently and that will factor more into play than the expiries impact today.
Still, we could see some scope for impact in holding price action if we do get a bit more of a quieter session in European morning trade. That until US president Trump wakes up to stir up more headline risks for markets to deal with.
So, that is the state of play going into the session ahead at least.
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