Dollar and Canadian are both trading with an undertone as markets await BoC and FOMC rate decisions, as well as US GDP data. Sterling appears to be mildly firmer as UK is finally heading towards election in mid-December. But there is no clear follow through buying. Swiss Franc and Euro are also trying to reverse some of this week's losses against the greenback. Australian Dollar remains the strongest one this week but upside is capped by slowing consumer inflation. Technically, EUR/USD's recover ahead of 1.1062 minor support retains near term bullishness. Focus could be back on 1.1179 temporary top and break will resume recent rally. USD/CAD recovered ahead of 1.3016 key support but upside is held below 1.3122 minor resistance. Thus, outlook stays bearish. USD/CHF lost upside momentum after hitting 0.9970 and focus is back on 0.9907 minor support. EUR/CHF also lost upside momentum after failing 1.1062 key cluster resistance and deeper fall could be seen today. In Asia, Nikkei closed down -0.57%. Hong Kong HSI is down -0.54%. China Shanghai SSE is down -0.45%. Singapore Strait Times is up 0.31%. Japan 10-year JGB yield is down -0.0099 at -0.119. Overnight, DOW dropped -0.07%. S&P 500 dropped -0.08% after making new record high at 3047.87. NASDAQ dropped -0.59%. 10-year yield dropped -0.018 to 1.835. |
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