Trade ideas thread – European session 31 May 2021

Daily thread to exchange ideas and to share your thoughts

The market is keeping more quiet so far today though Asian equities are a bit softer on the balance of things, with the Nikkei down by nearly 1%.

The yuan also had some mixed fortunes but has since recovered after the PBOC fix suggested that the central bank is still comfortable with things for the time being.

Besides that, major currencies are little changed in what may be a more subdued start to the new week with UK and US markets still observing a long weekend.

EUR/USD is still sticking close to 1.2200 while GBP/USD continues its struggle to try and keep a move above 1.4200. Elsewhere, NZD/USD is holding below resistance at 0.7300-05 and RBNZ Hawkesby’s remarks earlier may not help with that.

There is still plenty to look forward to in the new week, not least with the OPEC+ meeting tomorrow and US non-farm payrolls on Friday.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.


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