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The dollar is keeping a little firmer as we look towards the session ahead, keeping in a good spot from a technical perspective across the board. EUR/USD continues to track lower to 1.1440 while GBP/USD is down to fresh lows since December at 1.3360.
The bond market is back in action today and Treasury yields are sticking with the post-CPI sentiment for the time being still. As such, it is tough to fight the charts as we look to wrap up trading this week.
There isn’t much in terms of Fedspeak as well so we may have to wait for longer for Team Transitory to fight back against the market pressure again.
The dollar technicals have been the obvious plays for the last few days but even if they look to be establishing fresh breakout trends, one can’t help but feel that things could quickly reverse if the bond market doesn’t play ball.
Elsewhere, gold buyers are still trying to keep with the breakout above the summer highs but momentum is stalling around $1,860 levels for now.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.