Dollar is back in control today and it's trading as the second strongest one in early US session, next to Sterling. Stronger than expected ADP employment report, which showed 230k growth in September, gives the greenback an extra push. Sterling is rather steady as UK Prime Minister Theresa May's Conservative Party conference speech is ignored. At least, it isn't a disaster like last year. Euro's recovery lose some momentum as the lift from Italian budget rumor fades. Nonetheless, the common currency is still way better than Australian and Zealand Dollar, which are the worst performing one today. In other markets, DAX is on holiday. CAC is trading up 0.56% while FTSE is up 0.50% at the time of writing. German 10 year bund yield trades up 0.0293 at 0.454. Italian 10 year yield trades down -0.113 at 3.331. German-Italian spread narrows today but remains huge. Earlier today, Nikkei closed down -0.66%< Hong Kong HSI down -0.13%. But Singapore Strait Times gained 0.76%. One development to note is that Japan 10 year JGB yield added another 0.0126 to close at 0.142. It's now notably outside BoJ's band of -0.1% to 0.1%. Gold's rally lose momentum ahead of 1214 resistance and retreated. But for now, it's holding above 1200 handle. Technically, USD/CHF takes out 0.9866 resistance rather firmly today. Rebound from 0.9541 could now be on course for retesting 1.0067 resistance. AUD/USD is pressing 0.7143 support. Break will be a strong signal of larger down trend resumption through 0.7084 low. |
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