Dollar is turning softer entering into US session, as traders might start to lighten up position ahead tomorrow's FOMC rate decision. Commodity currencies are also soft, except Aussie which is supported by RBA's hawkish rate hike. Yet, there is no clear follow through buying in Aussie. European majors, on the other hand, are trying to rebound. Technically, some focuses will be on whether European majors build on current recovery to develop more sustainable rebound. The levels to watch include 4 hours 55 EMA in EUR/USD at 1.0626, 4 hours 55 EMA in GBP/USD at 1.2667, and 4 hours 55 EMA in USD/CHF at 0.9646. Without breaking these level, the rebound in European majors wouldn't last long. In Europe, at the time of writing, FTSE is down -0.48%. DAX is up 0.33%. CAC is up 0.41%. Germany 10-year yield is down -0.028 at 0.942. Earlier in Asia, Hong Kong HSI rose 0.06%. Singapore Strait Times rose 0.65%. Japan and China were on holiday. |
