Dollar trades broadly lower today but there seems to be no clear unified theme in the financial markets. Stocks are in risk-on mode, lifting the Australian Dollar. But Yen is also generally higher despite some mild recovery in treasury yields. Sterling's recovery is understandable as it's digesting some of last week's steep losses. Brexit uncertainty will cap the Pound's recovery. the markets could probably continue to trade on their own until Fed's announcement tomorrow. Technically, USD/JPY could finally really have a breakout, to the downside. Break of 105.10 support will bring deeper decline to 104.18. Break there will resume larger down trend from 111.71. At the same time, EUR/JPY could be heading back to 124.44 support and bring will confirm the start of short term correction. GBP/JPY could also be extending fall from 142.71 towards 131.11 fibonacci level. In Europe, currently, FTSE is up 1.28%. DAX is up 0.45%. CAC is up 0.60%. German 10-year yield is up 0.0018 at -0.475. Earlier in Asia, Nikkei dropped -0.44%. Hong Kong HSI rose 0.38%. China Shanghai SSE rose 0.51%. Singapore Strait Times roes 0.13%. Japan 10-year JGB yield rose 0.0007 to 0.020. |
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