 Asian markets traded higher earlier today after Trump announced to extend trade truce with China beyond March 1. But there is no sustainable buying, except in China. Australian Dollar is lifted by positive sentiments. But New Zealand Dollar is even stronger after better than expected retail sales. On the other hand, Canadian Dollar is the weakest one for now but it's just paring some of last week's oil price triggered gains. Dollar is the second weakest. Technically, there clear sign of reversal in Dollar yet. With 1.1275 minor support intact in EUR/USD, further rise is mildly in favor. Similarly, GBP/USD is holding above 1.2938 minor support, USD/CHF is held below 1.0060 minor resistance, USD/CAD is kept well below 1.3242. On the other hand, despite initial strength today, AUD/USD kept well below 0.7026 resistance and a break of 0.7054 is still in favor later. EUR/GBP could be a pair worth watching today as break of 0.8666 will extend decline from 0.8850 to 0.8617/20 key support zone. In other markets, Nikkei is up 0.68% at the time of writing. Hong Kong HSI is up 0.01%. China Shanghai SSE is up 2.33%. Singapore Strait Times is down -0.39%. Japan 10-year JGB yield is up 0.002 at -0.0038, staying negative. |
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