The forex markets remain rather quiet today so far. The selloff in stocks and oil overnight triggered some pull back in Canadian and Australian Dollars, but losses were limited. Similar, Yen was given just a mild pop while it's unmoved by the shallow decline in Asian stocks. Though, "softness" in Sterling is the general theme so far as it's paring yesterday's strong gains. Focus is turning to the UK Commons today. MPs will vote on Prime Minister Theresa May's so-called plan B. But importantly, they will vote on amendments which could shape the way forwards. In particular, there are amendments including ways to block no-deal Brexit. Technically, Sterling will be in focus today. EUR/GBP recovers after breaching 0.8620 key support. But such recovery is so far rather weak. GBP/USD also retreats, in rather shallow way, after breaching 1.3174 resistance. Positive news on Brexit today could give the Pound a boost. And firm break of the two levels will carry larger bullish implications for Sterling. In Asia, Nikkei dropped -0.84% to 24528.22. Hong Kong HSI is down -0.29%. China Shanghai SSE is down -0.20%. Singapore Strait Times is down -0.29%. Japan 10-year JGB yield is up 0.0028 at 0.002. Overnight, DOW dropped -0.84%. S&P 500 dropped -0.78%. NASDAQ dropped -1.11%. 10-year yield closed down -0.009 at 2.744. |
No comments:
Post a Comment