Trade ideas thread – European session 3 July 2023

<p>And just like that, we're past the halfway point in 2023 already. While month-end and quarter-end might have made things a little dicey towards the end of last week, we can now move on from that and continue to keep the focus on the balance between inflation, the global economy, and major central bank decisions.</p><p>The dollar remains in a decent spot, with USD/JPY still knocking on the door of the 145.00 mark. The yen will continue to be one to watch as we near intervention territory, and that could see some profit-taking come through especially in the likes of EUR/JPY and GBP/JPY.</p><p>The recent stability in the risk mood is helping the Australian dollar out a little ahead of the RBA tomorrow. But AUD/USD is coming close to the confluence of its 100 and 200-day moving averages at 0.6692-95, so there is that to watch out for.</p><p>Besides that, gold is keeping a decent bounce off $1,900 for now but is facing near-term resistance from its 200-hour moving average near $1,920 so far today. A push above that level will give buyers some decent wiggle room but keep below and sellers will stay interested to retest the figure level at some point this week.</p><p>It's a holiday-shortened week in the US but don't forget that we will have the non-farm payrolls report to come on Friday, so that will be one to keep markets active right before the weekend comes along.</p><p>What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.</p>

This article was written by Justin Low at www.forexlive.com.