 After taking a brief Brexit, Sterling's rally extends again today on optimism that risk of no deal Brexit is fading. Also, key figure of Brexiteer also expressed condition support for UK Prime Minister Theresa May's Brexit deal. For now, with some key resistance levels already taken out, the Pound is rather unstoppable. Meanwhile Swiss Franc follows as the second strongest on escalation in tensions between Pakistan and India. The Franc is usually more sensitive to geo-tensions than Yen. On other hand, Australian and New Zealand Dollar are the weakest ones for today so far. Yen is following s the third weakest. Dollar is mixed as markets are watching Trump-Kim summit in Vietnam, Trump gave warm greeting to his friend Kim and hailed "our relationship is a very special relationship". Kim also said "we'll have a very interesting dialogue". as Testimony of USTR Robert Lighthizer will also be closely watched as he might reveal some of the little known substantial progress in trade talks with China. Fed Chair Jerome Powell will also have his second day of Congressional testimony. Technically, USD/CHF's break of 0.9981 support is a sign of rejection by 1.0128 resistance and further decline is now mildly in favor back to 0.9716 support. USD/CAD is looking at 1.3112 temporary low and break will target 1.3068 key support. GBP/JPY's strong break of medium term trend line add to the case of underlying strength in the Pound. Next is 150 handle. In Europe, currently, FTSE is down -0.79%. DAX is down -0.37%. CAC is down -0.08%. German 10-year yield is up -0.0092 at 0.129. Earlier in Asia, Nikkei closed up 0.50%. Hong Kong HSI dropped -0.05%. China Shanghai SSE rose 0.42%. Singapore Strait Times dropped -0.36%. Japan 10-year JGB yield rose 0.0019 to -0.024. | 
No comments:
Post a Comment