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It is a new year but the dollar still isn't getting a whole lot of love to start the day as it keeps lower ahead of European morning trade today.
Major currencies are slightly higher against the greenback but are mostly little changed compared to each other for the time being.
The market is looking to keep more on the optimistic side though, with oil rallying while Treasury futures are down; 10-year yields up 2.2 bps to 0.935%.
Meanwhile, precious metals are gaining strongly as gold trades above $1,900 to near one-month highs and silver is up by over 2.5% to just above $27.
Gold also has a solid seasonal tailwind to bolster its upside momentum in January trading, so that is something to consider alongside the technical break above its 100-day moving average as well as fundamental factors keeping in place.
Elsewhere, US futures are little changed after having pared slight losses from earlier in the day to keep closer to flat levels currently.
As we slowly get back into the thick of things, it is all about anticipating the flows and how the market is going to go about its business after the break.
There is a solid argument to say that we will get back to how things were at the end of last year but amid the virus situation still rampaging across the world, there is a reason for investors to be more cautious as well to start the year.
Then again, it brings us back to the same battle as before i.e. virus vs easy money.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
