Dollar trades broadly lower today, except versus Yen as it's recovery quickly lost steam. Comments from Fed officials are mixed while markets are awaiting Fed chair Jerome Powell's speech at Jackson Hole symposium at 1400GMT. Durable goods orders report is mixed too, with weak headline numbers, but solid details. It's certainly not giving any help to the greenback. On the other hand, Australian Dollar is staying as the strongest today and picks up momentum slightly. Markets responded to generally welcomed Scott Morrison as new Prime Minister, and he ruled out calling a general election in near term. Fitch rating agency also said the leadership change will not have any impact of Australia's rating. New Zealand Dollar follows as the second strongest. In other market, European indices are generally firm with FTSE up 0.21%, DAX Up 0.20% and CAC up 0.38% at the time of writing. Earlier today, Nikkei closed up 0.85% at 22601.77 while China SSE also rose 0.18%. But Hong Kong HSI and Singapore Strait Times ended in red, down -0.43% and -1.14% respectively. As Dollar softens, Gold is back above 1190. |
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