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Daily Report: Dollar Firm on Rate View, Aussie Soft after RBA MinutesDollar remains generally firm a relatively quiet markets today with the dollar index holding above 98 handle for the moment. The greenback continues to draw support from view that Fed will hike interest rate this year. St. Louis Fed president James Bullard, who's currently not a voting member of FOMC, said that it's 50/50 for a September hike from the current near zero level. The strength in dollar is see as a main reason on pushing down commodities, with gold now hovering around 1100 handle after diving to a five year lower earlier this week. Crude oil also breached 50 and is hovering around that level. Stocks were steady with DJIA up 13.96 pts, or 0.08% at 18100.41 overnight. Asian markets are mildly firmer with Nikkei up more than 110 pts, or 0.55% at the time of writing. | |
Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.7333; (P) 0.7365; (R1) 0.7402; More... Intraday bias in AUD/USD remains on the downside. Current down trend should target 100% projection of 0.8161 to 0.7597 from 0.7848 at 0.7284. Break will target long term fibonacci level at 0.7182 next. On the upside, break of 0.7487 will indicate short term bottoming and bring strong rebound back towards 0.7848 resistance. |
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