Dollar trade generally higher today as markets await FOMC rate decision. But gain is very limited as traders are guarding against unexpected dovishness in Fed. In particular, such dovishness could be embedded in the new economic projections. Meanwhile, Swiss Franc is the second strongest for today, followed by Euro. On other hand, New Zealand and Australian Dollar are the weakest ones. Sterling is mixed as EU await UK government's letter for Article 50 extension. Technically, EUR/USD is losing upside momentum as seen in 4 hour MACD but there is no clear sign of topping yet. Break of 1.1294 minor support is needed to confirm completion of rebound from 1.1176. Similarly, USD/CHF will need to break 1.0052 minor resistance to indicate completion of pull back from 1.0124. AUD/USD was rejected by 0.7121 resistance overnight and could be heading back to 0.7003 low. USD/CAD rebounded strongly after dipping to 1.3250. It's fate could depend on whether WTI could get through 60 key resistance or be rejected by it. In Asia, Nikkei closed up 0.20%. Hong Kong HSI is down -0.28%. China Shanghai SSE is down -0.26%. Singapore Strait Times is down -0.38%. Japan 10-year JGB yield is up 0.0066 at -0.039, still negative. Overnight, DOW dropped -0.10%. S&P 500 dropped -0.01%. NASDAQ rose 0.12%. 10-year yield rose 0.012 to 2.614. 30-year yield rose 0.017 to 3.028. |
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