 Dollar has been relatively today and risks of escalation in trade war diminished. Deeper selling is seen after inflation data showed larger than expected fall in core CPI in August. Though, the greenback is currently underperformed by Yen due to easing risk aversion. In addition to trade optimism, Turkish central bank also delivered the anticipated rate hike, which helps lift the Lira by more than 2%. Talking about central banks, both BoE and ECB stand pat today and their decisions are widely expected. On the other hand, Australian Dollar continues to be the biggest winner today, as additionally supported by strong job data. Euro followed as the second strongest. Technically, we could Dollar and Yen extending this week's decline further in US session. In particular, EUR/USD will likely take on 1.1733 resistance while USD/CHF will take on 0.9640 support. EUR/JPY breaks 129.97 minor resistance and should now be heading to 130.86 and above. USD/JPY, however, is staying in range and show no intention of a breakout. |
No comments:
Post a Comment