European pre-market: Major currencies stifled as traders wait on trade talks outcome

Author: Justin Low | Category: News

Aussie sits a little higher on mild optimism

WCRS 11-10
Besides some bit part strength in the aussie, there really isn't much happening the in currencies market so far today. The overall changes in dollar pairs are less than 0.1% for the most part as traders continue to wait on the outcome of US-China trade talks.

There hasn't been much to work with in that regard apart from some mildly optimistic headlines that things aren't falling apart at least.

That has helped see the yen weaker earlier on against the aussie in particular before reversing the weakness to stay near flat levels at the moment.

Aside from the above, there isn't much else of note as trading ranges remain relatively tight with the pound still holding steady after a solid run higher in overnight trading on the back of more optimistic Brexit tones.

Looking ahead, the focus will stay on trade talks once again but if anything else, it looks like markets are potentially gearing up for more of a positive vibe as we wait on Trump's meeting with Chinese vice premier Liu He later in the day.

As such, be mindful of changes in the risk undertone as US futures are up by ~0.5% currently so that could lead to more upbeat movement among other risk assets as well.

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