Daily thread to exchange ideas and to share your thoughts
Good day, everyone! I hope you're all doing well as we get things going here in the session. It's been a lively start so far with the dollar notably slipping in early trades, trailing the rest of the major bloc rather evenly as we begin European trading.
The aussie is still the laggard though, after having seen more chatter for the RBA to cut rates further this year in Asia Pacific trading. Meanwhile, risk sentiment is cautiously optimistic as markets look to digest the mood amid lingering US-China trade tensions.
I reckon we may have to wait until Wall Street comes about for further confirmation on the improved risk mood here, so I wouldn't look too much into the 0.4% gain in US equity futures. As for currencies, I reckon the drag in the dollar could run further as we look to close out the week as the ebb and flow continues to do its part in keeping markets interesting.
But given the fundamental backdrop of the euro and pound, I would say the weakness in the greenback shouldn't be too overwhelming as we approach levels where dollar bulls may start to be interested in again.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
