Top Trade Ideas - July 31st
Our top watches and ideas ahead of a new week.
After an evening to digest the FOMC meeting, markets bought up the overnight session going into Thursday’s trading. At the open, markets sold off, before Friday buyers closed the week out strong. The bears had their chance but missed.
The FOMC and BoJ meetings dominated FX price action last week, although the US Dollar Index only managed to finish modestly higher despite the volatility.
Ahead this week, we flag up the Bank of England meeting on Thursday, where the market is very much 50/50 on whether we see a 25bps or 50bps move. We outline our preferred way to play it below.