-The market started slowly yesterday to begin the trading week but eventually markets played into a positive market yesterday on reports that Hamas was looking to release foreign hostages and a less hostile environment yesterday. EUR and GBP gained extensively against the Safe Havens.

The US Dollar weakened extensively across board yesterday after yields tracked lower towards 4.85% after testing highs around 5.05%. USDIndex (tracks the strength of the Dollar) gave up 106.0 level before settling around 105.30, but price is now down to a new low around 105.15 today.

-It’s PMI day in Europe this morning with EUR and GBP the centre of attraction. A lower-than-expected report should see the EUR pressured against the CHF while a better-than-expected report should see the EUR supported especially against the USD and JPY.

Risk mood (sentiment) tilts positive for now as no news continues to be good news for the market in the geopolitical space. Equities are slightly higher but not so much in there while commodities are also higher on the board although USOIL is still ranging for now after dropping below $86.00/bbl.

-In FX, Australian Dollar is the clear strongest currency in the market broadly supported by the current risk mood while US Dollar is the weakest currency in the market as yields tracks lower.

Cumulative Strength: AUD (0.44%)

Cumulative Weakness: USD (-0.30%)

-The US Dollar is down across board against the major although AUDUSD is the clearest mover for now. AUDUSD is up 0.63% but prices are running into resistance around 0.63850, if prices fall back towards 0.63600 then we can look for further upsides on the pair.

-EURUSD and GBPUSD are also higher on the day although prices are getting stretched and running into resistance. A better-than-expected print today from PMIs should see them extend gains against the USD while a lower-than-expected print could see some corrections in price.

-Looking ahead, It’s PMIs day on the economic calendar today which means data might be the ultimate decider of moves in the market today.

P.S: Your mind is the architect of your life, shaping your thoughts, beliefs, and actions. Choose wisely, for they will determine your success or failure." Join me at 10x Digital Lane to learn how to master your mind and achieve success through Forex trading.

Click here now: https://selar.co/m/click-to-cart

Use code 10XDIGITAL50 at checkout. For 50% Discount