 The forex markets are generally in tight range today. Risk sentiments improved slightly after US Treasury Secretary Steven Mnuchin indicated there would be a high-level trade talks with China in two weeks. New Zealand and Australian Dollars are trading mildly higher. On the other hand, European majors are generally weak, led by Swiss Franc for now. Euro might suffer fresh selling if German Ifo disappoints today. Technically, 1.0926 low in EUR/USD remains the major focus. Recent consolidations could extend as long as 1.0926 holds but decisive break will resume medium term down trend. Euro and Sterling are vulnerable against Dollar and Yen. But which one will lead the declines would depend on development in EUR/GBP. EUR/GBP is drawing support from 0.8797 fibonacci level. Break of 0.8894 minor resistance will indicate short term bottoming and give the Pound additional pressure elsewhere. In Asia, Nikkei is currently up 0.08%. Hong Kong HSI is up 0.32%. China Shanghai SSE is up 0.77%. Singapore Strait Times is up 0.47%. Japan 10-year JGB yield is down -0.021 at -0.239. Overnight, DOW rose 0.06%. S&P 500 dropped -0.01%. NASDAQ dropped -0.06%. 10-year yield dropped -0.047 to 1.708. | 
No comments:
Post a Comment