 Australian Dollar rises broadly today as dip in unemployment rate should significantly lower the chance of another imminent RBA rate cut next month. Though, upside is so far limited as the central bank is still on easing course. Sterling is digesting recent gains as markets await a Brexit deal finally, subject to support from UK MPs. Over the week, Pound remains the strongest one for now, followed by Euro and Swiss Franc. New Zealand Dollar is the weakest one, followed by Yen. Technically, Dollar is back under pressure after yesterday's poor retail sales, but overall outlook remains mixed. EUR/USD's rebound from 1.0879 is seen as a corrective move and we'd expect strong resistance from 1.1109 to limit upside. USD/CHF edged lower as consolidation from 1.0027 extends, but downside is held well above 0.9843 support. AUD/USD is also held below 0.6810 temporary top, not to mention 0.6894 key resistance. Thus, for now, we're not expecting one-sided selloff in Dollar yet, at least not until EUR/USD breaks 1.1109 decisively. In Asia, Nikkei is currently up 0.09%. Hong Kong HSI is up 0.74%. China Shanghai SSE is flat. Singapore Strait Times is down -0.23%. Japan 10-year JGB yield is up 0.0151 at -0.144. Overnight, DOW dropped -0.08%. S&P 500 dropped -0.20%. NASDAQ dropped -0.30%. 10-year yield dropped -0.023 to 1.748. |
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