Australian Dollar trades broadly higher today after RBA stood pat but raised growth forecast a little. Though, it's being held below last week's high against both Dollar and Euro. More evidence is needed to prove its strength. Sterling, on the other hand, shows a bit promises by extending recent rebound. Brexit noises continued to float around but there isn't anything concrete regarding the progress of negotiation. New Zealand Dollar is trading as the weakest one for now, followed by Yen and then Swiss France. Dollar is mixed while the Americans are busy with their mid-term elections. US markets closed mixed overnight after some dull trading. DOW gained 0.76%, S&P 500 rose 0.56% but NASDAQ dropped -0.38%. 10-year yield retreated slightly by -0.013 to 3.201. 30-year yield dropped -0.021 to 3.432 but stayed above recent resistance at 3.424, which it broke last week. In Asia, Nikkei rebounds today and is trading up 1.08%. But Hong Kong HSI, Shanghai SSSE and Singapore Strait Times are all in red. Technically, the levels to watch remain unchanged in a slow market. Break of 113.38 in USD/JPY will resume rebound from 111.37. EUR/GBP is heading to 0.8722 and break will resume whole decline from 0.9097. Though, one development to note is that GBP/CHF, yesterday's top mover, breached 1.3115 resistance already. It should be resuming whole rise from 1.2457 for 1.3413 projection level. |
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