Trade ideas thread - European session 30 June 2020

Author: Justin Low | Category: News

Daily thread to exchange ideas and to share your thoughts

Today marks the final trading day of the month, quarter and half-year. While the major focus remains on the risk mood, which remains rather choppy for the most part, flows are likely to keep things interesting in the day ahead.

WCRS 30-06
The market is keeping more calm for now, with the yen mildly weaker and the aussie a tad firmer. On the latter, AUD/USD is testing key near-term levels again but is seen struggling with more near-term resistance sitting closer at 0.6890-00 as well.

The focus today is likely to come down to identifying what the month-end and quarter-end portfolio rebalancing flows have to offer to investors. ING highlighted that this time around, the flows may be more dollar supportive but we'll see.

Things can get a bit dicey on days like these and the volatility may not suit everyone's liking. However, as we move past today, the trading week is also a bit cut short with the US observing a long weekend for the 4th of July holiday.

That means we'll be seeing a rather rare Thursday non-farm payrolls report. So, expect the market focus to quickly shift towards that from tomorrow onwards.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
For bank trade ideas, check out eFX Plus

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose