Where Main Street Meets Wall Street

Trade ideas thread – European session 4 October 2021

10


Daily thread to exchange ideas and to share your thoughts

The market is looking rather shifty as investors are in search of clues on how to go about dealing with risk sentiment to kick start the week (and essentially October trading).

Evergrande headlines today serve as a reminder to the risks involved with the company’s debt situation, as the arduous restructuring process starts to take shape.

Besides that, let’s not forget that the issues of supply bottlenecks, US debt ceiling, the energy crisis, and inflation worries are all still persisting for the time being.

I’m not too convinced of a straightforward risk bounce but dip buyers have certainly proved their mettle towards the end of last week at least.

Elsewhere, oil will be a focus today amid the OPEC+ meeting and considering the fundamental backdrop, buyers are certainly keeping poised to try and test the July high even as prices are down slightly just under $76 to start the day.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.



Source link

Leave A Reply

Your email address will not be published.