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Money Flow before the start of European trading today
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Loading...Sentiment risk continues to dominate the markets with the start of the new day, following solid gains on risky assets during the night trading. The S&P 500 hit a new record as government bond yields rose due to good sentiment over US-China trade relations.
This will keep the Aussie and the Kiwi in good positions today, with yields also remaining high. Overall, sentiment will remain calm, but markets will look to hold their enthusiasm until at least the Fed meeting tomorrow.
USD / JPY is close to 109.00, which is a key level of the psychological barrier, although the large volume of leaking options today at 109.00-10 will keep the price short throughout the session.
Other major currencies will continue to trade in narrow ranks, though the pound will again be the focus of another parliamentary election vote.
Under these conditions, sentiment trading will remain at the center, with risk sentiment and Brexit being the main drivers of cash flow over the busy next few days.
Trader Aleksandar Kumanov Read more:
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