Daily thread to exchange ideas and to share your thoughts
Major currencies are pretty much little changed on the day, although the yen is keeping slightly higher across the board as we see USD/JPY start to track under its 50.0 retracement level @ 106.45 ahead of European trading.
Other dollar pairs are keeping within a 10 pips change at the moment, with the market feeling a bit more tepid even as China returns from its holiday break.
S&P 500 futures are very much near flat levels after the rally yesterday fizzled out a little towards the latter stages. Still, US stocks posted a good day with the Nasdaq even erasing losses for the year at one stage in trading yesterday.
It's going to be a buildup to the US jobs data on Friday from hereon but as we start to see April economic data flow through, don't expect that to be of much comfort in the coming weeks. That said, reopening headlines should provide some encouragement - for now at least.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.