Entering into US session, the forex markets are generally staying in very tight range. Risk aversion somewhat receded today even though Trump maintained his hard line on trade negotiations with China. He indicated there is no rush for a deal now that the new rounds of tariffs took effect today. And the US an even use newly collected tariffs to buy their own agricultural products to send to poor countries for humanitarian aids. Let’s see if he will deliver what he claims.
For now, Dollar is the weakest one for today, followed by Yen and then Canadian. Euro is the strongest one, followed by Swiss franc and then Kiwi. The Pound gets no support from solid 0.5% Q1 GDP growth in UK. Dollar and Loonie will look into US CPI and Canadian job data for the next move.
In Europe, currently:
- FTSE is up 0.39%.
- DAX is up 0.80%.
- CAC is up 0.50%.
- German 10-year yield s up 0.008 at -0.039, staying negative.
Earlier in Asia:
- Nikkei dropped -0.27%.
- Hong Kong HSI rose 0.84%.
- China Shanghai SSE rose 0.31%.
- Singapore Strait Times rose 0.12%.
- Japan 10-year JGB yield rose 0.0019 to -0.044.
