Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're all doing well as we get things going here on the session. It's been a quiet one as headlines are few and far between with little on the economic calendar to really move things along as well.
The euro is holding steady after recovering following a dip overnight as Draghi's remarks were taken to be more dovish in the initial reaction. The trading range remains narrow though with EUR/USD sitting in a 17 pips range to start the day.
The pound is near unchanged levels against the dollar after European leaders agreed to a Brexit extension to 31 October. However, with no clear solution to break the current impasse, it's hard to see a clear path for the quid to gain for the moment.
The yen is a little weaker as markets are generally steady. Risk sentiment is still in search for direction so that is leaving USD/JPY holding between 111.00-15 levels for now.
Commodity currencies are slightly on the back foot with the aussie weighed lower by the federal elections announcement for next month while the loonie is weaker as oil falls off a little to start the day. That said, trading ranges remain tight as we begin the European morning.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.