“You have to take risks. We will only understand the miracle of life fully when we allow the unexpected to happen.” – Paulo Coelho

More of the same as wait for Mr. Market to sustain a serious move in either direction.

Interesting to note in the o/n session; China comments on them having no interest in currency manipulation and that this would actually be counterproductive. Keep an eye on USDCNH as this has  been a key driver of recent moves, not only in the FX complex but also in the metals. If we continue to see an unwind, especially sub 6.70s, then we could really see GOLD and Commodity currencies get some upside traction.

ICYMI, you can check out our latest Weekly Outlook Video.

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