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 on the session. It’s been a relatively quiet one so far today with major currencies not doing much:
The overall change among dollar pairs are <10 pips and the overall movement are within 0.1%, which epitomises the kind of slow and steady start we’re observing today.
I would expect the mood and the choppy price action overnight in risk to maintain its course over the next few days as markets prepare for the central bank bonanza to come.
This week, the ECB will be the main focus but we’ll also be getting the CBRT decision on the same day (Thursday) as well. Next week, we’ll get the Fed, BOJ, SNB and BOE with the former being the one market participants are keenly eyeing.
As such, I would expect more of the same vibes we’re seeing today to prevail in the week ahead until we get better clarity on how to proceed next. What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.