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.
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