Daily thread to exchange ideas and to share your thoughts
Happy Friday, everyone! Hope you’re all doing well as we get things going here on the session. It’s been a quieter start to the European morning as risk is more calm today amid the market focus on the key risk events in US trading later.
The US jobs report will be the first thing to watch before we get to Fed chair Powell’s speech in Zurich so expect markets to stay more subdued in build-up to those events.
As such, major currencies are looking more tepid with little directional movement overall and I would expect that mood to carry on before the non-farm payrolls data at 1230 GMT.
There isn’t much in play after the risk breakout yesterday but once again I’d be watching for more retracements in gold to set up for a further long-term play while in the currencies space I’m still holding some skepticism about pound strength but we’ll see.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.