Published: 2024-07-25T10:14:22.000Z
Psychology for major markets July 25th
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Senior FX Strategist
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JPY firm as risk sentiment weakens and carry trades unwind
EUR/USD – EUR/USD holding in the mid-1.08s with EUR/USD largely unaffected by the risk negative tone
USD/JPY – USD/JPY continuing to weaken helped by generally risk negative sentiment triggering unwinding of carry trades.
EUR/GBP – Holding slightly above 0.84 with downside more limited in risk negative environment.
AUD/USD – AUD continuing to weaken with soft Chinese equities weighing on sentiment, with AUD/JPY carry trade unwinds continuing.
Equities – Generally weaker with Asia leading the way but US and Europe following suit.