Daily thread to exchange ideas and to share your thoughts

The dollar is showing some resilience after the softer tones in Europe yesterday, pushing back in US trading before keeping steadier now on the day.

EUR/USD is tracking back just a little under 1.1800 while USD/JPY is up to 110.25 as 10-year Treasury yields also creep higher towards 1.33% ahead of European trading.

This reaffirms a bit more of a push and pull and meandering theme in the greenback to start the month and will likely keep at that ahead of Friday's non-farm payrolls data.

Yen pairs are still offering some interesting plays with CAD/JPY trying to push past short-term resistance around 87.40 while NZD/JPY is contesting its 100-day moving average 77.65 so far on the week.

GBP/USD backing away from 1.3800 and its 200-day moving average is also an interesting short-term play although price action is now caught in between the key hourly moving averages at 1.3718 and 1.3745, so that isn't offering much else.

Oil will be a keen focus in the day ahead as OPEC+ meets but barring any major surprises, price action should continue to hold up towards a potential test of $70 as buyers are still keeping near-term control (holding above the 100-hour MA).

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.