The forex markets are staying in consolidative mode today. Sterling rises notably as some Brexiteers are finally agreeing that Prime Minister Theresa May's deal is better than no Brexit. At least, there is a chance for future governments to adjust the relationship with EU further. But in any case, traders will likely stay cautious ahead of tomorrow's vote on Brexit alternatives. Following the Pound, Australian Dollar is the second strongest, followed by Dollar. Meanwhile, CAC leads European stocks higher as Airbus secured a giant deal with China during President Xi Jinping's EU visit. But after all, major pairs and crosses are bounded in familiar range. Yen is the weakest one for today as risk sentiments improved. Euro's is surprisingly the second weakest, followed by Swiss Franc. Technically, there is no clear sign of break out in most pairs yet. Though, EUR/USD is rejected by 4 hour 55 EMA as yesterday's recovery lost stem. Immediate focus is back on 1.1273 temporary low and break will extend the fall from 1.1448 to 1.1176 low. WTI crude oil is back above 60 and focus will be on last week's high at 60.36. Break will resume medium term up trend. In Europe, FTSE is currently up 0.22%. DAX is up 0.30%. CAC is up 0.74%. German 10-year yield is up 0.011 at -0.014. Earlier in Asia, Nikkei rose 2.15%. Hong Kong HSI rose 0.15%. China Shanghai SSE dropped -1.51%. Singapore Strait Times rose 0.55%. Japan 10-year JGB yield rose 0.0176 to -0.66. Released from US, housing starts dropped to 1.16M annualized rate in February, below expectation of 1.22M. Building permits dropped to 1.30M, missed expectation of 1.32M. House price index rose 0.6% mom in January. S&P Case-Shiller 20 cities house price rose 3.6% yoy in January. |
No comments:
Post a Comment