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It is month-end trading today and the bond market acting up isn't making things easy to read at the moment, with the yield curve flattening on the week and hinting at something more ominous down the road perhaps.
But for today, long-end yields are recovering as short-end yields slip back so that is playing fast and loose with market sentiment for the time being.
Elsewhere, tech stocks are taking a bit of a hit after disappointing earnings from Apple and Amazon yesterday. There's that to consider as well in the day ahead.
The euro sits in an interesting spot after yesterday's ECB meeting. While regional yields are pushing higher as the market defies Lagarde, I'm not convinced that the divergence in policy between the ECB and other major central banks will go away.
EUR/CAD is perhaps one of the more immediate pairs to watch as it contests short-term resistance around 1.4440-44. There might be scope for a further retracement higher but that is one to sell on rallies in my view.
Elsewhere, major FX is still keeping more subdued overall and some key levels still holding for dollar pairs despite the greenback slipping yesterday. One can play around with those but be wary that things can get a little tricky/messy on days like these.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.