Daily thread to exchange ideas and to share your thoughts
The dollar is trying to find a bit of a footing towards the closing stages of the week but month-end flows are potentially going to make things a bit messy in trading today.
EUR/USD is keeping a break above the key trendline resistance, seen @ 1.2108 today, but buyers have struggled to gain meaningful traction in the past few days.
Higher Treasury yields is still a major element in the market and that is one that is tough to ignore – both for the dollar and also yen pairs.
On the latter, USD/JPY tested waters above 109.00 again but ultimately failed to close above the figure level on the daily. Elsewhere, other yen pairs are looking to try and extend their break to the upside – namely EUR/JPY and CAD/JPY.
Going over to equities, US futures are slightly lower after the cash market gains yesterday but is there anything better than the buy-on-dips strategy in that space? I doubt so.