Daily thread to exchange ideas and to share your thoughts
The dollar is keeping firmer on the day as the meltdown in precious metals continue and that is seeing some mixed tones in the risk mood on the week so far.
Tech stocks in particular are having it rough and that is making for some concerns in the equities space. Meanwhile, Treasury yields are inching higher but it is tough to draw any firm conclusions after all the mixed messages in the past two weeks or so.
The focus today will reside on gold/silver with the risk mood also one to keep an eye on in the bigger picture. The dollar will draw clues from both sides and that will be the key factors dictating trading sentiment over the next few sessions.
As for gold sentiment, I'm closely watching this trendline as that may open up more pain to the downside from a technical perspective if it breaks:
I reckon such a move i.e. deeper correction will also reverberate across other markets too.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
