Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're all doing well as we get things going here on the session. It's been a mixed start to the day for markets but so far it's more of a risk story as the optimism from the US-China trade talks this week is beginning to wane as both parties are keeping mum for the most part so far.
- JPY leads as equities soften; E-minis down 0.6%
- Dollar mixed after falling yesterday; more Fed speaks to come later today
- Aussie steadies as AUD/USD runs into 100-day moving average
- Kiwi a little lower as NZD/USD runs into 200-day moving average
- Euro weighed a little lower after poor French data earlier, erasing earlier gains
- Loonie weighed lower after BOC reiterates data dependency and USD/CAD downside runs into 100-day moving average
- Pound weighed lower as Brexit uncertainty remains, Corbyn possibly pushing for election if May loses meaningful vote
Plenty of happenings but overall not much movement as markets wait on a real catalyst to break the current lull. If anything, watch out for Fed speakers later today as further dovish tones may be what traders are looking for in order for dollar pairs to extend with key levels in focus as noted above.
What are your views on the market right now? Share your thoughts/ideas with the rest of the ForexLive community here.