 The forex markets are rather quiet today. Sterling, US Dollar and Canadian Dollar are the stronger ones The Pound is supported by increasing chance of a delay in Brexit, or no Brexit at all. Canadian Dollar is lifted as WTI crude oil rebound and is back at 51.8. Meanwhile, the greenback follows long treasury yields higher, ignoring the record government shut down. Euro is staying soft on slowdown worries. But Australian and New Zealand Dollar are even weaker. Technically, we'd maintain that EUR/USD's corrective rise from 1.1215 is possibly completed earlier than expected at 1.1569. Further decline is mildly in favor for 1.1307 next. USD/CHF's breach of near term channel resistance is also a bullish development. Focus will now be on 0.9965 resistance. Yen crosses are bounded in tight range for now, awaiting breakout. While Sterling is firm, there is no committed buying yet. In other markets, FTSE is currently down -0.48%, DAX is up 0.08%, CAC is up 0.15%. German 10-year yield is up 0.015 at 0.224. Earlier today, Nikkei dropped -0.55%. Hong Kong HSI rose 0.27%. China Shanghai SSE ended flat. Singapore Strait Times rose 0.52%. Japan 10-year JGB yield dropped -0.0078 to 0.007. |
