Yen trades generally lower in rather quiet markets today. Risk appetite strengthens mildly despite extended record run in US government shutdown. There were rumors that US is considering to roll back tariffs to facilitate trade negotiation with China. But that was quickly denied. Nevertheless, Fed's "patience" rhetorics continued which is sentiment supportive. For the week, Sterling continues to ride on Theresa May's Brexit deal defeat and stays the strongest one. Dollar follows as second strongest, with a little help from rebound in yields. Kiwi is the weakest one followed by Swiss Franc. Technically, GBP/USD's rebound form 1.2391 resumed by breaking 1.2930 overnight. Further rise would be seen to 1.3174 resistance. EUR/GBP is also on track to 0.8655 low as fall from 0.9101 extends. GBP/JPY's strong break of 139.88 resistance now raises the chance of larger trend reversal. 143.93 minor resistance is the next hurdle. USD/CHF is also getting closer to 0.9963 resistance. Break there will confirm completion of recent corrective pull back from 0.9963. In other markets, Nikkei closed up 1.22% at 20650.64. Hong Kong HSI is currently up 1.21%. China Shanghai SSE is up 1.15%. Singapore Strait Times is up 0.26%. Japan 10-year JGB yield is up 0.0035 at 0.015. Overnight, DOW rose 0.67%. S&P 500 rose 0.76%. NASDAQ rose 0.71%. 10-year yield rose 0.018 to 2.749. But 30-year yield ended flat at 3.077. |
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