Trade ideas thread - European session 3 June 2020

Author: Justin Low | Category: News

Daily thread to exchange ideas and to share your thoughts

The dollar is continuing to stay on the back foot as the risk mood holds firmer going into European trading. Asian stocks are trading higher and US futures are also keeping in positive territory, keeping the likes of the aussie and kiwi underpinned.

WCRS 03-06
That said, gains in aussie have been pared back a little close to the 0.7000 earlier, with the high touching 0.6983, but buyers are still firmly in control.

The euro is also taking a peek above the 1.1200 handle against the dollar now, with the focus in the currency turning towards the ECB policy meeting tomorrow.

The market is continuing to take things with a glass half-full approach as the risk rally keeps extending. The Nasdaq is inching closer towards an all-time high but just be mindful that headline risks are still a key factor in trading this week.

That being said, investors have brushed them aside - especially that of US-China tensions - for the most part since the end of last week. But let's see if there will be any surprises.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

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