Psychology for major markets November 6th

EUR/USD – EUR/USD down near 2 figures after the US election and the decline in EUR front end yields suggests further downside risks.

USD/JPY – USD/JPY higher in line with the general USD strength post election, but USD upside may be more limited from here as Japanese authorities likely to be resistant to further JPY weakness.

EUR/GBP – GBP gaining some ground with the USD against the EUR after the US election, but gains unlikely to extend far with BoE rate cut likely this week.

AUD/USD – AUD/USD dropped in line with general USD gains after the election, but has bounced somewhat helped by a better equity market tone and still has support on a 0.65 handle. But may be vulnerable to announcement of tariffs on China.

Equities – S&P 500 gaining on the Trump victory helped by the promise of tax cuts. But high valuations and the possibility of tariffs suggests gains may not extend far.