Trade ideas thread - European session 22 May 2020

Author: Justin Low | Category: News

Daily thread to exchange ideas and to share your thoughts

Risk-off vibes is the name of the game as the negative headlines are looking to be rather timely as we look towards the weekend.

WCRS 22-05
Stocks are selling off, with negative spillovers seen from the sharp fall in the Hang Seng - now by over 5% lower - as China looks to impose national security legislation in HK.

The dollar and yen are keeping firmer in the major currencies space, somewhat continuing the pace from yesterday as US futures slump to start the session. From a technical point of view, the S&P 500 continues to back off from a test of its key daily moving averages for now.

Just take note that it will be a long weekend for UK and US markets as both will be closed on Monday, so that's something to consider.

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

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