October 11, 2024 at 09:02AM
Major currencies aren’t showing much appetite with dollar pairs keeping lightly changed still in the opening hour in Europe. Here’s a snapshot of things so far on the day:
Dollar pairs are pretty much keeping within 0.1% change with narrow ranges prevailing for the most part. Outside of USD/JPY, other dollar pairs are holding within a 30 pips range with EUR/USD sitting within a 13 pips range only.
And even for USD/JPY, the range today is an outlier compared to what we normally would see in the pair. The 14-day average true range (ATR) is ~180 pips. And the 7-day ATR for the pair is ~130 pips. So, yeah.
With little on the agenda in Europe, it’s pretty much a placeholder session in the final day of the week. All eyes are on US data and more Fed speak to keep things interesting before the weekend.
This article was written by Justin Low at www.forexlive.com.