Dollar is staying under pressure as traders are back from holidays. Risk sentiment is relatively steady with new global coronavirus cases and deaths starting to trend down. The improvements are particularly evident in Spain and Italy since the start of April. There is also hope that the worst is over in the US and the UK as numbers could have peaked last week. Following Dollar, Yen and Canadian are the next weakest. The OPEC+ agreement on production cut was far from being impressive to traders, as WTI crude oil is stuck in range below 30. On the other hand, Australian and New Zealand Dollar are the strongest ones despite poor economic data. Stabilization in sentiments also restore the inverse relationship between Gold and Dollar, as Gold jumped to new 7-year high on Dollar's selloff. In Asia, Nikkei is currently up 2.91%. Hong Kong HSI is up 0.65%. China Shanghai SSE is up 0.68%. Singapore Strait Times is up 2.46%. Japan 10-year JGB yield is up 0.005 at 0.014. Overnight, DOW dropped -1.39%. S&P 500 dropped -1.01%. NASDAQ rose 0.48%. 10-year year rose 0.020 to 0.749. |
No comments:
Post a Comment