Entering into US session, Dollar remains the strongest one for today, together with Swiss Franc. However, recovery in the greenback seems to be losing some momentum. For now, EUR/USD and GBP/USD are holding well above 1.1493 and 1.2811 minor support respectively. Thus, there is no indication of completion in Dollar’s pull back yet.
Dollar’s upside momentum is apparently limited as Trump threatens the Americans that if he’s impeached, “the market would crash” and “everybody would be very poor”. So, Trumps is telling the world that Americans would choose to keep a criminal as President so as to save their pockets?
It was a pretty eventful session in Eurozone with PMIs, ECB accounts and comments from Bundesbank head Jens Weidmann. Euro is doing ell enough to trade as the third strongest one. Sterling also shrugs off the collection of documents on preparation for no-deal Brexit, published by the government.
On the other hand, Australian Dollar remains the weakest one for today on its down domestic political turmoil. The country could be having a new Prime Minister, the seventh in a decade, within days. And it’s uncertain whether Malcolm Turnbull will stay. Or it will be Treasurer Scott Morrison, former Home Affairs Minister Peter Dutton, or Foreign Affairs Minister Julie Bishop.
The European stock markets are pretty quiet too, with FTSE, DAX and CAC trading nearly flat in very tight range. China’s Shanghai SSE rose 0.37% to close at 2724.62 as new rounds of tariffs from US and China takes effect. Hong Kong HSI dropped -0.49%. Nikkei rose 0.22% and Singapore Strait Times rose 1.56%.
