Trade ideas thread - European session 4 December 2019
Daily thread to exchange ideas and to share your thoughtsGood day, everyone! Hope you're all doing well as we get things going here in the European morning session. It's been a slower start to the day so far with only the aussie nudged slightly lower on the back of a softer Q3 GDP report earlier.
The Australian growth story continues to paint a much bleaker picture than what the RBA suggests and that may prove to hinder any solid gains for the aussie currency in the short-term - at least until household consumption, inflation or wages improve.
The rest of the market remains more tepid and cautious with little change among major currencies for the most part. US futures are keeping steady alongside bond yields so far today but with US-China tensions still persisting, it is hard to see the tide shifting towards a rally in risk assets for the time being.
As such, be wary of more trade-related headlines to shift sentiment around during the week but otherwise we could see market participants keep more cautious in the sessions ahead.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.