Canadian Dollar, Australian Dollar and Euro are the strongest major currencies today. Meanwhile, Swiss Franc, Yen and Dollar are the weakest one. The reason for the strength in Loonie is not exactly clear. But Canadian could be benefiting from report that US Treasury Secretary Steve Mnuchin urged President Donald Trump to exempt Canada from the steel and aluminum tariffs. Euro is clearly lifted by hawkish comments from ECB officials that raised of announcing the end of QE in next week's meeting. meanwhile, Australian Dollar continues to stay firm after today's GDP upside surprise. Technically, EUR/JPY's strong break of 128.94 support turned resistance argues that the correction from 137.49 has completed with three waves down to 124.61. Further rise is likely for 133.47 resistance in near term. EUR/CHF's strong break of 38.2% retracement of 1.2004 to 1.1366 at 1.1610 also suggests that the pull back from 1.2004 already. The question now is whether EUR/GBP will finally make up its mind and commit to a direction. |