 Asian markets open quietly with Japan and China on holiday. The tone is mixed as new round of US-China tariffs take effects today. At the time of writing, Dollar, Sterling and Yen are firmer ones. Commodity currencies are the weaker ones led by Aussie. A more notable move is indeed seen in WTI crude oil, which breaks 71 handle after OPEC during the weekend. Gold is trading slightly softer and is back below 1200. The major focus this week is whether FOMC announce would help Dollar stay a sustainable rebound after last week's selloff. The greenback touched a key fibonacci support level of 1.1779 against Euro last week and recovered. But there is no confirmation of reversal yet. Meanwhile, Sterling will continue to be sensitive to any Brexit headlines after last week's EU informal summit ended with negotiation in a impasse. Technically, it's a little but far but attention will be on 1.1649 minor support in EUR/USD, 0.7228 support in AUD/USD, 0.9651 in resistance in USD/CHF and 1.2975 resistance in USD/CAD. | 
No comments:
Post a Comment