Trade ideas thread - European session 5 June 2020
Daily thread to exchange ideas and to share your thoughtsRisk is keeping in a better spot to start the session with US futures up by around 0.5%, coming off the slightly softer trading session yesterday. In turn, that is helping to keep the likes of the aussie and kiwi slightly underpinned ahead of European trading.
That said, most major currencies are still trading rather narrowly with the dollar a tad softer but nothing too overwhelming. The euro continues to look perky on a breakout following the ECB policy decision to expand its PEPP stimulus by €600 billion yesterday.
All eyes now turns towards the US non-farm payrolls and although it is a very much lagging indicator, it is still a key risk event that market participants will pay attention to.
As such, there will be some investors waiting on that to be over and done with before dipping their toes back in just ahead of the weekend.
Over the next few sessions, risk sentiment will continue to remain a key driver but there will also be interesting narratives such as Brexit and OPEC+ to watch out for.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.