Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're all doing well as we get things going here in the new week and second month of 2020. It's been a decent start to the day already with the hot topic being the beatdown in Chinese markets after returning from their extended break.
However, other risk trades are taking heart in the fact that Chinese officials are stepping in to absorb the pressure and limit the fallout we are seeing to start the week.
That in turn is keeping risk more steady as we see a bit of retracement to the Friday price movements in early trades today. The pound is also notably keeping weaker as cable fails to hold above the 1.3200 level for now.
Looking ahead, trading sentiment will still revolve around the risk mood for the most part as coronavirus fears continue to grip markets. As such, pay attention to key headlines on that front as that will be the likely driver of any changes in risk during this week.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
