There is just one to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1600 level. The expiries don’t tie to any technical significance but could just help to lock price action for a bit in European trading, provided the risk mood keeps more tepid.
As things stand, risk and dollar sentiment are still the bigger drivers of price action and that all ties back to US-Iran developments. So, headline risks will continue to remain paramount as broader markets continue to stay on edge awaiting further news.
But as the status quo prolongs, higher oil prices and bond yields will continue to exert pressure on risk trades
FX option expiries for 20 May 10am New York cut
