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 in the session. It's been a decent start to the week despite the lack of economic data releases but we're yet to see any major breakout in the trading theme just yet. It's promising to be an exciting week ahead so let's ease into things, shall we?
- CAD leads as higher oil prices help, retraces some of Friday's losses from poor data
- EUR gives back earlier gains as Italian bonds reverse course, dollar catches some bids
- JPY continues to be weighed lower as equities sentiment remains decent
- E-minis still trading around 0.2% higher on the day
- GBP weighed lower as domestic political woes start to weigh
With the developments in Italy's budget still ongoing, that should continue to cap the euro's gains this week. Of note, do be reminded that S&P will be delivering their verdict on Italy's credit this Friday. Apart from that, I would expect volatile trading in the pound but I view the risks skewed towards the downside as long as threats of a no confidence motion remains.
What are your views on the market right now? Share your thoughts/ideas with the rest of the ForexLive community here.
