 Dollar is trading generally higher today and Middle East tensions seem to be out of traders' mind already, without any new developments. Instead, markets are focusing back on fundamentals and central bank expectations. Thus, Australian and New Zealand Dollars are suffering steep selloff despite return of risk appetite. In particular, traders could be starting to position for an RBA rate cut in February. Canadian Dollar and Yen are the next strongest to Dollar, followed by Euro. Technically, selloff in Aussie is gathering momentum. AUD/USD's downside acceleration affirms the case that corrective rise from 0.6670 has completed with three waves up to 0.7031. Break of 0.6838 will add credence to this case and target 0.6754 support for confirmation. EUR/AUD will test 1.6314 resistance very soon. Break will confirm successful defense of 1.58/59 key support zone and maintain medium term bullishness. AUD/CAD breaks 0.8981 support decisively today, confirming completion of corrective rise form 0.8835 at 0.9150. Retest of 0.8835 low should be seen next. AUD/JPY's corrective rise from 69.95 should have completed at 76.54. Further fall should be seen to 73.82 support to confirm this bearish case. In Europe, currently, FTSE is up 0.06%. DAX is up 0.78%. CAC is up 0.25%. German 10-year yield is down -0.010 at -0.293. Earlier in Asia, Nikkei rose 1.60%. Hong Kong HSI rose 0.34%. China Shanghai SSE rose 0.69%. Singapore Strait Times rose 0.90%. Japan 10-year JGB yield rose 0.0190 to -0.011. | 
No comments:
Post a Comment