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Veksler: Oil, China and beer fuelling action in FX markets

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Plenty of action in the FX market this Tuesday, says trader Ken Veksler, and it's fueled by a drop in oil prices, weak Chinese imports and Anheuser-Busch InBev’s £68 billion takeover of SABMiller, which will see the creation of the world’s biggest beer brewing empire.

According to Veksler, a tentative sentiment in the markets has caused some out sized moves, leaving plenty of scope for some currencies to go back down. 

Veksler says he is on the lookout for mean reversion trades for currency pairs such USDCAD and GBPAUD, while the market awaits firm data to set the direction.