Daily thread to exchange ideas and to share your thoughts
Happy Friday, everyone! Hope you're all doing well as we get things going here on the session and look towards the release of the US Q1 GDP report later today. It's been a quiet start to the day in terms of key headlines but we are seeing some decent movement in the past hour after a bit of a dour start to the European morning.
The dollar is a little weaker across the board but ranges are still kept relatively narrow for now with EUR/USD pushing a little higher towards 1.1150 and cable also rising back above the 1.2900 handle. The aussie and kiwi are also pushing gains after the former is helped by better terms of trade data while the latter is aided by some boisterous commentary from RBNZ governor Orr and stronger trade balance data.
Regardless of the moves this morning, the ultimate risk event today will be the US Q1 GDP report later at 1230 GMT so be on the look out for that as it will likely help to play a pivotal role not just for currencies but for risk sentiment as we look to wrap up the week.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
