 The forex markets are rather quiet today as major pairs and crosses are stuck in consolidations. Better than expected trade data from China gives sentiments a mild boost. But momentum of recovery is very weak so far. Treasury yields are also trying to recover after yesterday's steep decline. For the week, New Zealand Dollar remains the weakest one, followed by Canadian and then Australia, Euro is the strongest, followed by Swiss Franc and then Yen. Technically, selloff in Australian Dollar loses some momentum and consolidations would likely be seen first. While Dollar tried to decline versus Swiss Franc and Yen, recoveries are seen in both pairs today. USD/CHF and USD/JPY would engage in some more sideway trading before resuming recent decline. Sterling is gyrating in tight range against Dollar, Euro and Yen too. But then, risk of no-deal Brexit will continue to cap the Pound's recovery, and more selloff is in favor, sooner rather than later. In Asia, Nikkei rose 0.50%. Hong Kong HSI is up 0.75%. China Shanghai SSE is up 1.02%. Singapore Strait Times is down -0.42%. Japan 10-year JGB yield is up 0.0013 to -0.195. Overnight, DOW dropped -0.09%. S&P 500 rose 0.08%. NASDAQ rose 0.38%. 10-year yield dropped -0.055 to 1.684. |
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