Equities keep firmer in European morning trade so far
The market is looking buoyant to start the new week
- Germany DAX +2.4%
- France CAC 40 +1.7%
- S&P 500 futures up 29 points, +0.9%
- Nasdaq futures up 120 points, +1.1%
- US 10-year yields +1.3 bps to 0.668%
The risk mood is keeping more positive so far, as stocks are gradually extending gains on the session. European indices are looking to bounce back strongly from Friday's disappointment while US futures are pushing higher on the day.
But the more positive twist isn't quite translating to much movement in the major currencies space, with little change observed across the board except for the pound.
Cable is now inching to session highs of 1.2824 and nears a test of its 200-hour moving average, a key near-term level pointed out earlier here.
Keep below that and the near-term bias stays more neutral but break above and the bias turns more bullish instead. Just be mindful that Brexit risks are still a key consideration for the pound in the sessions ahead so just be wary of that despite the technical picture.
Meanwhile, there isn't much change across the board with AUD/USD settling around 0.7040-50 and not quite ready to retest its highs from earlier today 0.7063.
USD/JPY is also largely contained between 105.30-40 for the most part and EUR/USD is staying little changed and trapped in a 25 pips range between 1.1615-40.
Reprinted from Forexlive，the copyright all reserved by the original author.
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