The forex markets are very quiet today, with most major pairs and crosses staying inside yesterday's range. Dollar is paring some post FOMC minutes gains, while Sterling is also soft. On the other hand, Australian and New Zealand Dollar are both recovering mildly. As for the week, Euro is currently the strongest one,m followed by Yen and the Pound. Kiwi is the worst, followed by Aussie and Dollar. Technically, after some volatility this week, Dollar's near term outlook stays bearish for now. The levels to note include, 1.2050 support in EUR/USD, 1.4004 support in GBP/USD, 0.7687 support in AUD/USD. 0.9092 resistance in USD/CHF and 1.2201 resistance in USD/CAD. As long as these levels hold, we'd expect Dollar's sell-off to come back sooner or later. In Europe, at the time of writing, FTSE is up 0.45%. DAX is up 0.87%. CAC is up 0.83%. Germany 10-year yield is up 0.011 at -0.095. Earlier in Asia, Nikkei rose 0.19%. Hong Kong HSI dropped -0.50%. China Shanghai SSE dropped -0.11%. Singapore Strait Times rose 0.18%. Japan 10-year JGB yield rose 0.0084 to 0.084. |
