Daily thread to exchange ideas and to share your thoughts
Another lackadaisical day beckons in Europe with the market still looking rather indecisive this week for the most part. The dollar was sluggish yesterday while equities gained, with 10-year Treasury yields also inching up a little back to 1.30%.
Put together, that isn't really sending any clear signals this week.
If anything, USD/JPY is one I'd be watching as it holds near 109.00 and the lower end of the recent range since mid-July trading. That has more potential technical implications rather than anything major to alter the market landscape at the moment.
I reckon we may be stuck in this mode until the FOMC meeting next week.
But there are still some straightforward plays that I am sticking with, that being long oil amid the technical breakout earlier in the week and also short AUD/NZD still. It feels like I've been on and on with this two for quite a while now but I guess that exemplifies the rather indecisive tones elsewhere around the market.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.