Daily Trade Recommendation

Originally updated: 08:00am London Time

Trading Bias: Neutral

Currency pair: None

Current Sentiment: Neutral

In today's trading session I will be awaiting news flow to provide opportunities to get into the market as there is no clear sentiment.

Fundamentals:

The overnight session was relatively subdued as the calendar and newswires were light on market moving news. Price action was dictated by the USD-index after holding above Friday's post US durable goods data lows. Be cautious trading the USD as we have the FOMC meeting coming up on Wednesday. Thus, the USD could remain under pressure going into that event.

Elsewhere a Greek government source said Athens will resume talks with its creditors today, which comes after Greek PM Tsipras spoke on the phone with German Chancellor Merkel. Keep an eye out for any ongoing talks regarding Greece.

Technicals:

At this stage of the session, with limited news flow to present a reason to get into the markets, I will be waiting for pairs to approach key levels of support/resistance and trade the overall trend in line with the fundamentals. This will of course be in conjunction with any news flow we have that provides the market with fresh sentiment and a reason to start getting involved in the market.

Other Market Moving News:

Looking ahead, today's economic calendar is very light with only RBA's Steven's due to speak at 11:40pm. Stevens will likely be dovish and try to talk the AUD down. Also he might hint at any upcoming rate cuts which could weigh on the AUD as well. We will also likely have various comments from Eurozone leaders regarding Greece, which is worth monitoring.