Daily thread to exchange ideas and to share your thoughts
There is a slight hint of a risk-on mood to start the day, with US futures sitting higher by just over 1% and retracing some of the losses from last week.
That is also translating to a higher aussie, kiwi and loonie to start the session while the yen is among those on the back foot (just by a little).
The pound is also keeping softer - much like towards the end of last week - as Brexit woes and a less impressive response by the UK in dealing with the coronavirus crisis isn't really helping the quid find much relief, not to mention technical breaks in GBP/USD and EUR/GBP.
Despite the more optimistic start for risk, I reckon it could all easily turn around on the right (or wrong, if you will) headlines. US-China tensions are still brewing and that will be something to be mindful about in the sessions ahead.
The S&P 500 index remains a key chart to watch this week in my view.
Meanwhile, we are also seeing gold break out to its highest levels since October 2012 but can the bulls keep up the momentum towards $1,800? That will be interesting to find out.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
