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The push and pull available in the market continues, with the greenback bending however not breaking on Wednesday earlier than consumers tried to wrestle again some management yesterday. Nonetheless, the push fizzled and we’re again to almost the place we had been once more two days in the past.
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Danger remains to be in a difficult spot to start out the day because the spat between the US Treasury and the Fed solely provides to the adverse virus developments at current, with traders having to stability between that and vaccine optimism.
On the latter, simply remember that Pfizer is predicted to file for emergency-use authorisation with the FDA at this time and which may give algos/threat consumers one thing to work with (albeit, presumably quickly) later within the day.
As for the bond market, the fade continues after the selloff on the vaccine information from final Monday with Treasury yields slowly monitoring decrease in the course of the course of the week.
Again to FX, the identical key technical ranges from earlier within the week are coming again into play being 1.1900 in EUR/USD, 1.3300 in GBP/USD, 0.7300 and 0.73400 in AUD/USD, 0.6942 in NZD/USD and a few questions surrounding USD/JPY under 104.00.
In the meantime, for the pound there may be additionally the prospect of Brexit talks to be careful for thus simply be cautious of that as we glance in direction of the weekend.
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