 Yen remains the weakest one as another week starts with solid risk appetite. Sentiments towards US-China trade negotiation turned optimistic again after positive statements from both sides. Trump also hailed there were "big progress" during last week's meetings in Beijing. More talks are scheduled this week in Washington to work out a memorandum of understand. It remains to be seen whether there will finally be something with substance, or it would turn out to be another cosmetic agreement. Risk appetite is lifted anyway. In the currency market, Dollar follows Yen as the second weakest. However, Canadian Dollar and Australian Dollar receive no boost and are trading just next to Dollar. New Zealand Dollar, on the other hand, decouples from other commodity currencies as the strongest one for today so far. Euro follows as the second strongest and then Sterling. Technically, Dollar is staying above near term support levels against other major currencies. Current retreat is seen as a corrective pull back only and more upside is in favor. The levels include 1.341 resistance in EUR/USD, 1.2958 resistance in GBP/USD, 0.9988 support in USD/CHF, 110.00 support in USD/JPY and 1.3196 support in USD/CAD. In other markets, Nikkei close up 1.8%. Hong Kong HSI is up 1.73%. China Shanghai SSE is up 2.34%. Singapore Strait Times is up 0.81%. Japan 10-year JGB yield is up 0.003 at -0.018, staying negative. | 
No comments:
Post a Comment