 While Euro rises initially today it's starting to be overwhelmed by Sterling and Swiss Franc entering into US session. Words from officials regarding the talks of EU recovery fund were positive. European Commission President Ursula von der Leyen said the leaders showed "clear will to find a solution" and "things are moving in the right direction". German Chancellor Angela Merkel also said there's " hope that an agreement can be reached today." But traders seem to be getting impatient. For now, Sterling is is the strongest. Yen, Dollar and Australian Dollar are the worst performing. Technically, focus is back on 0.9043 minor support in EUR/GBP. Break will suggests completion of rebound from 0.8930 and extend the consolidation from 0.9175 with another fall. GBP/USD is also eyeing 1.2669 temporary top and break will resume the rally from 1.2251 towards1.2813 short term top. Gold is also pressing 1817.91 resistance again. Break will resume larger up trend for 61.8% projection of 1451.16 to 1765.25 from 1670.66 at 1864.76. In Europe, currently, FTSE is down -0.56%. DAX is up 0.41%. CAC is down -0.10%. German 10-year yield is down -0.0060 at -0.451. Earlier in Asia, Nikkei rose 0.09%. Hong Kong HSI dropped -0.12%. China Shanghai SSE rebounded strongly and gained 3.11%. Singapore Strait Times dropped -0.08%. Japan 10-year JGB yield rose 0.0081 to 0.025. | 
No comments:
Post a Comment