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 in the session. It’s been a risk off themed trading session as we begin the day as markets are scrambling to havens with the usual suspects gaining on the back of all of this i.e. Japanese yen, Treasuries.
The dollar is also holding steady but has given back some gains from earlier in the session:
- JPY leads as risk off sentiment prevails
- Global equities slump with E-minis down by 1.2% currently
- USD holds steady, gives back early gains
- AUD, NZD lags but off the lows
It’s all about equities sentiment right now and the obvious play in a session like this is that on yen pairs. The key to trading that today will depend on how the US cash equity market performs and I’d be keeping an eye on the S&P 500 index for a gauge of how deep this drop can go still.
What are your views on the market right now? Share your thoughts/ideas with the rest of the ForexLive community here.