 Euro, Sterling, Australian and New Zealand Dollar are so far the stronger ones today. Euro is lifted by news that Italy is finally showing some flexibility to adjust it's 2019 budget deficit target. The development also send European stocks higher and Italian yield lower. Improvement in risk appetite helps lift Aussie and Kiwi slightly. Meanwhile, in such market sentiments, Yen, Dollar and Swiss Franc are naturally the softest ones. Technically, though, the movements in the forex markets are rally limited. EUR/USD is held well below 1.1421 minor resistance despite today's recovery. And EUR/JPY stays below 129.10 minor resistance too. GBP/USD is kept well below 1.2927 minor resistance. And GBP/JPY is held below 145.90 minor resistance. AUD/USD is staying close to mid-point of range of 0.7164/7325. That is, the impact developments in Italy and Brexit may not last too long. In other markets, at the time of writing, FTSE is up 0.67%, DAX is up 1.13%, CAC is up 0.58%. German 10 year yield is up 0.0184 at 0.362. Italian 10 year yield is down notably by -0.132 at 3.282. German-Italian spread is now back below the 300 alarming level. Earlier in Asian, Nikkei closed up 0.76%, Hong Kong HSI gained 1.73%, Singapore Strait Times rose 1.34%. But China Shanghai SSE dropped -0.14%. This is a risk to the global markets. |
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