Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're doing fine as we get things going here in the European morning session. Headlines have been few and far between again today but we're seeing some decent action across the board at least.
The dollar leads gains as the focus remains on key central bank decisions to come in the next week or so. Fed funds futures still point to a 19.5% odds of a 50 bps rate cut and that's still 19.5% too much for my liking so let's see how those expectations shift about in the days ahead. That will influence dollar price action ahead of the FOMC meeting.
The kiwi is the laggard after a report indicated that the RBNZ is starting to explore unconventional policy, calling into question the kiwi's good form over the last two weeks.
Looking ahead, the pound will be in focus as we get closer to the new UK PM announcement set for around 1045 GMT. Other than that, it's still all about central bank rhetoric as we look to wrap up the month.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
