European majors are generally stronger today, after Euro survived yesterday's ECB monetary easing. Meanwhile, Canadian Dollar is broadly pressured following decline in oil prices. New Zealand Dollar is also weak after poor manufacturing data. Dollar is soft despite more positive news regarding US-China trade negotiations. Over the week, Sterling is the strongest one on hope of another Brexit delay. Euro and Australian Dollar follow as second and third. Yen is the weakest on general improvement in market sentiments, followed by Canadian. Technically, EUR/USD defended 1.0926 key support level and is now rebounding further. Focus is back on 1.1164 resistance. We'd expect it to hold to bring down trend resumption. But firm break will be a sign of bullish reversal. EUR/GBP is still struggling in tight range above 0.8891 cluster support. Firm break there will dampen our original bullish view and bring deeper fall to 0.8797 fibonacci level and below. EUR/JPY is extending the rebound from 115.86, towards 120.48 fibonacci level next. In Asia, Nikkei closed up 1.05%. Hong Kong HSI is up 0.67%. China Shanghai SSE is up 0.75%. Singapore Strait Times is up 0.52%. Japan 10-year JGB yield is up 0.0544 at -0.156, a rather strong rebound. Overnight, DOW rose 0.17%. S&P 500 rose 0.29%. NASDAQ rose 0.30%. 10-year yield rose 0.058 to 1.791 and it might test 1.8 handle again before weekly close. |
No comments:
Post a Comment