Trading in the forex markets has been rather subdued for most of the day. But there are signs of some additional weakness in Sterling and Canadian Dollar in early US session. Traders could be lightening up positions ahead tomorrow's Brexit votes and debates in the Commons. But the Pound could make a come back if amendments related to ruling out no-deal Brexit are being approved. Meanwhile, Canadian Dollar follows oil prices lower. On the other hand, Dollar is mixed as the government agencies affected by the historic shut down reopen. There are enough high profile events for Dollar traders to pay attention to, including US-China trade meetings, FOMC rate decisions and non-farm payrolls reports. All these three events could trigger violence move in the greenback in either directions. But for now, Euro, Swiss Franc and Yen are the strongest ones for today. Technically, AUD/USD and USD/CAD are moving away from 0.7235 and 1.3180 levels respectively, suggesting recent consolidations are extending. EUR/GBP's recovery from 0.8617 is gather some momentum. Break of 0.8725 resistance will strong suggests that 0.8620 key support is depended and would bring stronger rebound in the cross. In that case, GBP/USD could be dragged down through 1.3012 minor support to indicate rejection by 1.3174 key resistance. In other markets, FTSE is currently down -0.52%. DAX is down -0.38%. CAC is down -0.37%. German 10-year yield is up 0.027 at 0.222. Earlier in Asia, Nikkei dropped -0.60%. Hong Kong HSI rose 0.03%. China Shanghai SSE dropped -0.18%. Singapore Strait Times dropped -0.09%. Japan 10-year JGB yield dropped -0.0016 to -0.001. |
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