Daily thread to exchange ideas and to share your thoughts
The dollar is mildly higher to start the day but overall ranges continue to be rather sideways this week as the market counts down to the non-farm payrolls report tomorrow.
EUR/USD is now trading back just under 1.2200 after holding around 1.2200-10 earlier while USD/JPY is up to 109.77 from around 109.55-60 earlier.
The moves are so far consistent with the more middling theme in FX for the time being, with risk sentiment keeping more muted and Treasuries also rather idle.
Elsewhere, oil looks to build on a break as it climbs to $69.40 and up 0.7% today. A push towards $70 will offer the next key psychological test for buyers.
Meanwhile, Bitcoin is showing some signs of life as it climbs to $38,700 now - its highest level in nearly a week. But still, the $40,000 level and 200-day moving average (now @ $41,475) are still key levels keeping sellers in control for the time being.
It seems like we may be in for more of a lull and sideways trading until the NFP tomorrow.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
