 Trading in the forex markets continue to be relative quiet today. Sterling is mildly softer as consolidations continues. It's weighed down slightly by Boris Johnson's move to block transition period extension. Australian Dollar is the second weakest after RBA minutes affirm the chance of more easing. On the other hand, Euro is currently the stronger one, helped by the recovery in EUR/GBP. New Zealand Dollar is second strongest, following improvement in business confidence. Technically, outlooks are generally unchanged though. GBP/USD, GBP/JPY and EUR/GBP are extending this week's near term consolidation. We'd expect 1.3050 support in GBP/USD, 142.47 support in GBP/JPY and 0.8508 resistance in EUR/GBP to hold, followed by more rally in the Pound later. USD/CHF and USD/JPY are two pairs to watch today, which could hint on the next direction of Dollar. Break of 0.9805 in USD/CHF will extend the fall from 1.0023 towards 0.9659 low. On the other hand, break of 109.72 resistance in USD/JPY will resume the rally from 104.45. In Asia, Nikkei closed up 0.47%. Hong Kong HSI is up 1.10%. China Shanghai SSE is up 1.33%. Singapore Strait Times is down -0.07%. Overnight, DOW rose 0.36%, S&P 500 rose 0.71%. NASDAQ rose 0.91%. All three indices hit new record highs. 10-year yield rose 0.073 to 1.892. |
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