Trade ideas thread - European session 11 February 2019

Author: Justin Low | Category: News

Daily thread to exchange ideas and to share your thoughts

Good day, everyone! Hope that all of you had a great weekend and that you're ready to tackle the new week in similar vein. The European morning has been a little quiet with most major currencies holding their ground since Asian trading.

WCRS 11-02

The notable story on the day has been the Swiss franc's "flash crash" after the currency fell by ~100 pips against the dollar before recouping said losses thereafter. It happened during a period of thin liquidity and more so as Japanese traders are away today due to a holiday.

Other than that, the kiwi and aussie are holding up decently with the former gaining ahead of the RBNZ meeting to come this Wednesday. The yen is on the weaker side as USD/JPY is back up to test the 110.00 handle again with US-China trade talks in Beijing set to dominate the risk landscape this week (as it did last week).

Looking ahead this week, be wary of Brexit news as well with Theresa May still trying to work out a deal that will gain support in parliament before 14 February. Chances of that remain slim and the longer this ordeal drags on, expect that to continue to weigh on the pound.

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


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