Daily thread to exchange ideas and to share your thoughts
It has been a bit of a back and forth start to the week and major currencies are showing little change today as we look to get into European morning trade.
US futures are keeping near flat levels and that is leaving little to be desired for the time being as the risk mood remains more tepid and mixed. Chinese stocks are continuing to push higher but the Nikkei is seen lower after the fall in Wall Street overnight.
Gold remains a star performer, hovering at levels just under $1,800 for now. That is a key psychological level in which I would reckon that profit-taking activity may come about in the sessions ahead if and when we cross that line.
Other than that, I'm skeptical about the recent push higher in the pound over the past few sessions but it is tough to ignore the technical signs for now.
If anything, I'd argue that there'd be better - or at least more attractive - opportunities to short the currency down the road.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
