The dollar is slowly gaining some ground as risk sentiment is starting to get roughed up again now. S&P 500 futures are down 0.2% and we’re seeing the greenback post a slight advance across the board. EUR/USD is down 0.3% to 1.0820 on the day:
EUR/USD hourly chart
The pair continues to dribble lower with sellers in near-term control now. There is some minor support around 1.0820 with large option expiries also one to watch at the 1.0800 mark. If the figure level gives way, it should help to shift the tide and mark a more modest retracement to the gains from earlier this month.
Elsewhere, USD/JPY is also seen up 0.5% to 149.55 and GBP/USD down 0.3% to 1.2927 currently. Meanwhile, AUD/USD is down 0.2% to 0.6285 and poised for a fourth straight day of declines.
As we look to the session ahead, there won’t be much on the agenda in Europe to shake things up. As such, trading sentiment will continue to rely mostly on the risk mood before we get to the weekend.
