 Australian Dollar is trading as the strongest one for today in spite of RBA's second consecutive rate cut. Additionally buying is seen after RBA Governor Philip Lowe talked about four positive developments that could help the economy in a speech. Though, the Aussie is held in range against Dollar for now and there is no indicate of larger rise resumption yet. For Now, Yen is following as the second strongest, partly thanks to falling major treasury yields again. In particular, German 10-year bund yield hits another record on as EU is preparing for tariff escalations by US. On the other hand, New Zealand Dollar is the weakest, one, followed by New Zealand Dollar. Sterling is the third weakest after shockingly poor construction PMI. Dollar is mixed for today but remains the strongest one for the week. Resumption of trade talk with China remains a Dollar supportive factor, as well as yesterday's ISM Manufacturing. Though, the greenback will still need to face tests from ISM Services as well as Non-Farm Payrolls later in the week. These data will be crucial for Fed to decide if an insurance rate cut is needed this month. In US, stocks open mildly lower today with DOW currently down -0.23%. S&P 500 is down -0.09%. NASDAQ is down -0.12%. 10-year yield is down -0.0139 at 2.013. In Europe, FTSE is up 0.43%. DAX is down -0.07%. CAC is up 0.02%. German 10-year yield is down -0.0048 at -0.359. Earlier in Asia, Nikkei rose 0.11%. Hong Kong HSI rose 1.17%. China Shanghai SSE dropped -0.03%. Singapore Strait Times dropped -0.04%. Japan 10-year JGB yield rose 0.0038 to -0.143. |
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