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 on the session. It's been a quiet one in terms of headlines but currencies are very well and alive as we begin the European morning.
The aussie is leading gains after Chinese economic data for Q1 and March showed visible improvements, helping to allow markets to breathe a sigh of relief and cast aside fears on global growth for the time being.
Meanwhile, the dollar is slightly weaker across the board alongside the yen as bond yields are notably higher on the day. The euro is among the lead gainers as German 10-year bund yields rise to four-week highs to 0.096% currently. US 10-year yields are up by 1.6 bps to 2.607% as well at the moment.
The kiwi is still the laggard but it has retraced some of its earlier losses as the currency fell after disappointing Q1 inflation data in Asian trading. NZD/USD dropped by 100 pips to 0.6668 but has recovered since to 0.6740 now with help from the Chinese data earlier.
There's still plenty to play for as equities remain tepid to start the day, leaving markets in a position looking to run with a more risk-on mood but also holding back just a little.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
