Risk appetite seems to be given a lift again by words regarding US-China trade negotiations. There seems to be some consensuses and progress made even thought it's unsure what they exactly are. Nevertheless, at least, trade talks will resume next week in Washington, which is a positive sign. Yen and Swiss Franc are back under some pressure but Euro is the weakest one for today. Commodity currencies are having a come back too while Dollar is mixed. Technically, EUR/USD resumed recent fall again by breaking 1.1249 temporary low and is set to challenge 1.1215 low finally. USD/CHF and USD/JPY also rebounds strongly and both could take on 1.0098 and 111.13 resistance. Sterling is showing sign of recovery against Euro and Yen. But GBP/USD remains well below 1.2958 resistance and further decline is expected. In other markets, FTSE is currently up 0.76%. DAX is up 1.89%. CAC is up 1.80%. German 10-year yield is up 0.0006 at 0.108. Earlier in Asia, Nikkei dropped -1.13%. Hong Kong HSI dropped -1.87%. China Shanghai SSE dropped -1.37%. Singapore Strait Times dropped -0.41%. Japan 10-year JGB yield dropped -0.0114 to -0.022, staying negative. Release in US session, Empire State Manufacturing index rose to 8.8 in February, up from 3.9 and beat expectation of 7.6. Import price index dropped -0.5% mom in January, below expectation of -0.1% mom. Canada international securities transactions dropped CAD -18.96B in December. |
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