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 in the European morning session. It’s been a decent start to the day with yen pairs recovering some ground as the risk mood is a little bit improved from the beat down suffered yesterday.
US data continued to present some mixed questions about the economy and that is what was weighing on the dollar and stocks in overnight trading.
As we look ahead, it is up to markets to determine now whether or not that has bigger repercussions for the trade war and the global economy over the next few weeks/months.
The RBA reaffirmed their on hold position earlier today but a lot can happen between now and February, so it may not necessarily be a long-term stance. As such, aussie gains will still largely be tied to economic data for the most part.
I’d still be watching for kiwi outperformance in the short-term as long as risk sentiment and US-China trade continues to hold up somewhat.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.