Daily thread to exchange ideas and to share your thoughts
Good day, everyone! Hope you're all doing well as we get into European trading. Once again, the aussie and kiwi are leading the charge as market sentiment continues to rally strongly despite the ongoing US-China trade rhetoric. China's response can be deemed somewhat mild and that is helping with the good mood seen in markets today.
Some market themes to consider:
- USD and JPY remains weak as markets are more risk on, yields higher
- European equities are all trading higher on the day now
- AUD and NZD stays supported as China says they won't devalue the yuan
- It's all about the 100-day MA: GBP/USD, EUR/USD, DXY
With the key three charts above threatening a break of a similar level not seen since April, it's setting up for potentially quite a trade in the dollar space from a technical perspective. That's something worth keeping an eye on in the sessions ahead. What are your views on the market right now? Share your thoughts/ideas with the rest of the ForexLive community here.