Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're all doing well as we get things going on the session. It's been a relatively quiet start to the European morning but we are seeing some decent movements in the pound and yen at least.
The former is inching lower after getting a boost from Brexit backstop concession talks overnight. Buyers are still in near-term control but are slowly feeling their grasp slipping after finding it tough to break above 1.2075 in cable.
The yen is also a little weaker amid higher Treasury yields today and if there is any action to follow, I reckon the bond market is the spot to watch today.
Looking ahead, it's going to be a light one on the data docket before we get Canadian CPI data and the July FOMC meeting minutes.
Although the minutes may be something to watch out for, I doubt it'll have a major impact considering how markets are looking towards September already currently. In the mean time, be wary of Brexit, trade and Italian political headlines.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
