 Sterling trades broadly higher today as boosted by stronger than expected wage growth data. While the gains are impressive, upside is limited against Dollar, Euro and Yen so far. UK Prime Minister Theresa May's fortunate in the EU summit tomorrow is a factor capping the Pound. Also, there will be inflation and retail sales data upcoming on Wednesday and Thursday. It's natural for Sterling bulls to say cautious. New Zealand Dollar is trading taking turn to be the strongest with the Pound, as lifted by CPI. Meanwhile, as stock markets stabilized and turned mixed, Yen and Swiss Franc are the weakest ones, followed by Dollar. Technically, the forex markets is rather mixed elsewhere. Dollar continues to engage in consolidative trading against everyone, possibly just except Sterling. EUR/USD is bounded in tight range of 1.1534 and 1.1610. A break out from this range could be the guide for other pairs. In other markets, DAX is up 0.71% at the time of writing, CAC up 0.78%. FTSE is nearly flat and up 0.04%. German 10 year bund yield is down -0.0112 at 0.494. Italian 10 year yield is down -0.068 at 3.486. Earlier today, Nikkei closed up 1.25%, Hong Kong HSI rose 0.07%. But Singapore Strait Times lost -0.38%. China Shanghai SSE dropped -0.85% to close at 2546.33. SSE has indeed breached last week's low at 2536.66 to 2536.44. | 
No comments:
Post a Comment