FX option expiries for 15 May 10am New York cut
There is arguably just one to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1675 level. Well, the new day is seeing a big turn in broader market sentiment with a risk-off wave sweeping across here. That is putting the dollar in a good spot to start the day and will be the main driver of trading sentiment to close out the week.
In the case of EUR/USD, the expiries won’t have much of a say as they don’t tie to any technical significance. Instead, the break of the 200-day moving average of 1.1681 is the bigger thing to note and that is driving further downside momentum for the pair currently. Before this, price action was very much stuck between that and the 1.1800 level since mid-April.
So, the break of that range now allows for more scope to the downside and will exert a bigger influence than any pull factor from the expiries above.
US-Iran headlines will continue to dominate proceedings otherwise, but that’s about it.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at investinglive.com.