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 on the session. It's been a relatively quiet one in terms of headlines as traders continue to digest the happenings since overnight trading for the most part.
The yen is holding more firm amid weaker bond yields with traders displaying caution about global economic conditions and also as Lagarde's appointment as ECB president is failing to inspire a shift away from Draghi's dovish monetary policy stance.
That is also helping gold to post modest gains on the day so far as most other assets/currencies remain more subdued sandwiched by the US-China trade truce over the weekend and anticipating the US non-farm payrolls release on Friday.
The pound is weaker since overnight trading after Carney's less upbeat remarks is causing markets to view the BOE as softening their stance on "gradual, limited" rate hikes but the backdrop of Brexit uncertainty and poor economic data throughout the week hasn't helped the quid in any way whatsoever.
Looking ahead, I reckon we could be in for a more quiet session but let's see if there are any surprises in store for us in terms of data and headlines. What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.