Euro recovers mildly today as partly supported by strong rebound in German economic sentiment. Though, upside is capped for now as outlook for the country remains negative. Follows as the second strongest, then Yen. Fed is still widely expected to cut interest rate again tomorrow. And the question is whether Chair Jerome Powell would signal that's the end of the mid-cycle adjustment. On the other hand, Australian Dollar remains the weakest one on dovish RBA minutes. New Zealand Dollar is the second weakest, then Swiss Franc. Technically, EUR/USD continues to engage in sideway consolidation. A break through 1.0926 is still expected but it might come at a later stage. USD/CHF's break of 0.9946 suggests resumption recent choppy rise from 0.9659. 0.9975 will be an important structural resistance to take out. For now, AUD/USD is still holding above 0.6807 minor support, but break there will indicate completion corrective rebound from 0.6677. In Europe, currently, FTSE is flat. DAX is down -0.56%. CAC is down -0.23%. German 10-year yield is down -0.006 at -0.485. Earlier in Asia, Nikkei rose 0.06%. Hong Kong HSI dropped -1.23%. China Shanghai SSE dropped -1.75%. Singapore Strait Times dropped -0.65%. Japan 10-year JGB yield rose 0.0043 to -0.151. |
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