 Dollar and Yen trade generally higher today as Asian markets turned mixed. The strong rally in Asian stocks yesterday was based on optimism on US-China trade negotiation. But such optimism has quickly turn into cautiousness. Another round of negotiation will start in Washington today, followed by high-level meeting later in the week. It remains to be seen what kinds of progress were made and investors would be eager to see then in writing in a to-be-delivered MOU. Staying in the currency markets, Australian and New Zealand Dollars are the weakest one so far. Aussie is pressured as RBA minutes revealed much concerns over housing market slump. Economists are predicting that RBA could stand pat through 2021. And some even expected a cut as next move. Sterling follows as next weakest ahead of employment data. Euro is mixed, awaiting German economic sentiment. Technically, there is no breakthrough in the markets so far. EUR/USD and GBP/USD remains held below 1.1341 and 1.2958 resistance. USD/CHF is holding above 0.9988 support, USD/JPY above 110.00, USD/CAD above 1.3196. The greenback is in favor to rally in general. AUD/USD's dip today could also be an early of weakness ahead. Similarly, EUR/JPY is held well below 125.95 resistance, GBP/JPY well below 144.84 resistance. CAD/JPY is staying below 83.98 resistance. Outlook in Yen is neutral for now but upside risks are building. 0.8728 minor support in EUR/GBP could be a level to watch given the data release schedule in UK and EU. In other markets, Nikkei closed up 0.17%. Hong Kong HSI is down -0.24%. China Shanghai SSE is down -0.35%. Singapore Strait Times is up 0.05%. Japan 10-year JGB yield is down -0.004 at -0.024. | 
No comments:
Post a Comment