Daily thread to exchange ideas and to share your thoughts
Happy Friday, everyone! Hope you're all doing well as we get things going here in European trading. The dollar and yen are the laggards once again as the former continues to get squeezed while the latter is falling on the back of renewed optimism of a US-China trade resolution. It's looking to be a bountiful day for risk but don't forget, we still have the US jobs report to come and that could ruffle some feathers.
- AUD, NZD leads on improved risk sentiment, short covering
- USD stays offered as flows move into the likes of yuan and Asian currencies too
- JPY suffers as trade optimism helps boost equities, risk
The major question is can the optimism from a US-China trade resolution last the course of the day despite the lack of significant details? Also, is there really a deal that is being worked out or is this the White House putting up a show ahead of the midterms next week?
I reckon Wall Street will eat into any positive story at this point after what has been a tough month for equities in October. But let's see if the US jobs report has something to say about that to temper with the gains in equities seen so far. What do you think?
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