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The push and pull in the market continues, with the dollar bending but not breaking on Wednesday before buyers attempted to wrestle back some control yesterday. However, the push fizzled and we're back to nearly where we were again two days ago.

WCRS 20-11

Risk is still in a tricky spot to start the day as the spat between the US Treasury and the Fed only adds to the negative virus developments at present, with investors having to balance between that and vaccine optimism.


On the latter, just be aware that Pfizer is expected to file for emergency-use authorisation with the FDA today and that might give algos/risk buyers something to work with (albeit, possibly temporarily) later in the day.

As for the bond market, the fade continues after the selloff on the vaccine news from last Monday with Treasury yields slowly tracking lower during the course of the week.

Back to FX, the same key technical levels from earlier in the week are coming back into play being 1.1900 in EUR/USD, 1.3300 in GBP/USD, 0.7300 and 0.73400 in AUD/USD, 0.6942 in NZD/USD and some questions surrounding USD/JPY below 104.00.

Meanwhile, for the pound there is also the prospect of Brexit talks to watch out for so just be wary of that as we look towards the weekend.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.