Sterling is in recovery today, and it's supported by better than expected monthly GDP data. Yen is currently the softer one. But overall trading is quiet in the currency markets. RBNZ's rate hike doesn't give any lift to Kiwi. Canadian Dollar is range bound, awaiting BoC rate decision. Meanwhile, Dollar is consolidating recent gains, awaiting US CPI data. Technically, Dollar is losing some upside momentum, but there is no clear sign of topping yet. Near term levels to monitor include 1.0189 minor resistance in EUR/USD, 1.2055 minor resistance in GBP/USD, 0.6873 minor resistance in AUD/USD, 0.9721 minor support in USD/CHF, 134.74 minor support in USD/JPY. Buying dips in Dollar is still the way to go as long as these levels hold. In Asia, Nikkei rose 0.48%. Hong Kong HSI is up 0.03%. China Shanghai SSE is up 0.07%. Singapore Strait Times is down -0.67%. Japan 10-year JGB yield is down -0.0049 at 0.239. Overnight, DOW dropped -0.62%. S&P 500 dropped -0.92%. NASDAQ dropped -0.95%. 10-year yield dropped -0.033 to 2.958. |
