 Dollar started the first trading day of 2020 with mild recovery, as the year end selloff seems to have passed the climax temporarily. Though, Yen is currently even stronger. On the other hand, European majors are generally lower for the moment. But overall, the forex markets appear to be in consolidative mode, rather than a turn around. Subdued trading might continue unless next week. Technically, 108.27 support in USD/JPY remains a focus for the near term. Decisive break there will indicate short term bearish reversal in the pair. That could triggered further selloff in Dollar elsewhere. On the other hand, USD/CHF appears to be drawing support form 0.9659 and recovered. Further fall is expected as long as 0.9770 minor resistance holds. But break of this resistance could be an early sign of more broad based rebound in the greenback. In Europe, FTSE is currently up 1.01%. DAX is up 0.98%. CAC is up 1.31%. German 10-year yield is down -0.019 at -0.203. Earlier in Asia, Japan was on holiday. Hong Kong HSI rose 1.25%. China Shanghai SSE rose 1.15%. Singapore Strait Times rose 0.91%. Japan 10-year JGB yield dropped -0.0037 to -0.016. | 
No comments:
Post a Comment