Positivity continues to be the prevailing sentiment in the financial markets, with the S&P 500 Index once again in a bull market. In the FX space however, activity has been subdued with this lack of dynamism stemming from investors being on standby ahead of important risk events later today. Chief among these is the publication of weekly American unemployment figures with the last two weeks revealing record-busting numbers of new claims. As a result, investors are buckled up in anticipation and this explains the relative steadiness in the correlation between the dollar and its peers, with the Index that measures the performance of the greenback almost flat on the day. We should expect more activity and fluctuation later in the day once these unemployment figures are published.
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