New Zealand Dollar surges broadly today after RBNZ's hawkish hold. Other commodity currencies follow as risk appetite returns to the markets, on hope that China's coronavirus outbreak would peak soon. US stock indices also hit new records after Fed Chair Jerome Powell's affirmative comments. While Dollar turns softer, there is no clear support seen in Euro, which is trading as the weakest for today for now. Technically, EUR/USD is still on track to retest 1.0879 low, but it's starting to lose downside momentum. The greenback also turned softer all other major pairs. Focus is indeed back on 0.9740 minor support in USD/CHF, 1.3262 minor support in USD/CAD and 0.6774 minor resistance in AUD/USD. Break of these levels will indicate short term topping in the green back and could help lift EUR/USD for a recovery. In Asia, Nikkei closed up 0.74%. Hong Kong HSI is up 0.97%. China Shanghai SSE is up 0.71%. Singapore Strait Times is up 1.34%. Japan 10-year JGB yield is up 0.0174 at -0.039. Overnight, DOW dropped -0.00%. S&P 500 rose 0.17%. NASDAQ rose 0.11%. 10-year year rose 0.043 to 1.590. |
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