Daily thread to exchange ideas and to share your thoughts
The more positive vibes in the equities space is pinning the dollar down to start the day, with the greenback lagging across the board ahead of European trading.
AUD/USD is looking back towards 0.7000 while EUR/USD is also hovering around 1.1330 with both pairs now trading back above their respective key hourly moving averages.
Meanwhile, cable is starting to move back towards last week's highs and a potential test of its own 200-day moving average to get the week started.
It's all about risk sentiment and despite the rising coronavirus cases in the US, investors are shrugging off said concerns with US futures hinting at more optimistic tones.
We've not quite broken the extremes yet in terms of what we have seen with major currencies over the past few weeks but amid another potential risk-on push today, we'll see if there's anything more to the rally in the sessions ahead.
Let's not forget that we'll also have key earnings releases this week with banks and financials set to report on Tuesday and Wednesday, before we get Netflix on Thursday.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
