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 European morning session. Markets are generally quiet to begin the day but the aussie is gaining further ground as AUD/USD looks to find a break above key resistance levels as noted here. The high at the moment reaches 0.7150 following cited short covering after RBA deputy governor Guy Debelle's speech earlier.
Meanwhile, the pound is holding up well as focus turns to Brussels as European leaders seek to approve a Brexit extension; likely to be a long one. Other major currencies are trading in a more subdued manner as ranges remain relatively narrow with risk sentiment offering little in terms of fresh direction.
There's also the ECB meeting to come later on and I won't expect much fireworks to come from there but we'll also have the US CPI report alongside the release of the FOMC meeting minutes so hopefully the latter two will help inject some life into markets later today.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
