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 start to the day with markets a little hopeful but nothing to suggest a risk-on rally so far. Equities are slightly higher alongside Treasury yields but currencies are little changed overall as the trading ranges continue to be narrow.
The kiwi leads gains since Asia Pacific trading amid better risk sentiment but NZD/USD has been holding around 0.6500-10 for the most part since early trades. Meanwhile, the pound is a little weaker (what else is new?) in the past hour after a bit of a drop but the trading range for cable remains within 30 pips for now.
Other major currencies are little changed against the dollar as markets are basically caught in limbo as all the focus and anticipation turns towards the FOMC meeting on Wednesday. Until then, I'd expect markets to be choppy and without much clear direction. As such, tread with caution and I would advise not to read too much into the moves until the Fed decision is out of the way this week.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
