HomeLive CommentsInto European session: AUD overwhelmingly weakest. USD, JPY, CHF firmer

Into European session: AUD overwhelmingly weakest. USD, JPY, CHF firmer

Entering into European session, Australian Dollar is overwhelmingly the weakest one today. Stronger than expected jobless data just gave Aussie a brief lift. It then reversed after Westpac forecasts two RBA cuts this year. The Aussie then tumble further on news that China’s Dalian ports banned the countries’ coal imports. New Zealand Dollar follows as second weakest, then Canadian.

On other hand, Yen is trading as the strongest one today as risk sentiments stay mixed, followed by Dollar and then Swiss Franc. Strength of the triple suggests that markets might be turning more cautious. There are news that US and China are hammering out multiple MOUs to address the core issues including forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade. But that seem to be ignored by stock bulls. Dollar is additionally supported as FOMC minutes suggested that Fed is possibly still on track for one more hike by the end of the year. Looking ahead, Eurozone PMIs and ECB accounts will take center stage in European session.

Over the week, Sterling is the strongest one for now. Step by step, the issue on Irish backstop seems to be closer to a resolution with some legal binding language outside of the main withdrawal agreement. Swiss Franc and Canadian are the next strongest. New Zealand and Australian Dollars are now the weakest one, followed by Yen.

In Asia,

  • Nikkei closed up 0.15%.
  • Hong Kong HSI is up 0.08%.
  • China Shanghai SSE is down -0.29%.
  • Singapore Strait Times is down -0.11%.
  • Japan 10-year JGB yield is down -0.0036 at -0.04.

Overnight,

  • DOW rose 0.24%.
  • S&P 500 rose 0.18%.
  • NASDAQ rose 0.03%.
  • 10-yearyield rose 0.007 to 2.654.
  • 10-year yield rose 0.009 to 3.000.

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