Daily thread to exchange ideas and to share your thoughts
Stocks are finding some reason to be optimistic once again to start the day but yesterday didn't turn out too well for the optimists as gains fumbled in the latter stages of US trading.
It is going to be the same tug of war today and I still reserve my doubts if the risk rally is built on foundations that we are going to see a return to normalcy across the world any time soon; even the coronavirus trajectory in some hot spots aren't all that better now.
The yen remains an attractive proposition after losing much ground, but perhaps it is better played against the crosses than the dollar. A hint of a double top in AUD/JPY near 67.65?
Meanwhile, dollar sentiment remains caught up by the fluctuating risk mood so let's see if we will get clearer direction in the technicals in trading today.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
