Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data. But all major pairs and crosses are staying inside Friday's range. Some volatility could finally be seen again, especially in Aussie, with RBA rate decision scheduled in the upcoming Asian session. Technically, it looks like AUD/CAD has defended 0.9247 key support again. Further rebound tomorrow, subject to RBA's decision and statement, could pop the cross back towards 0.9394 resistance. Firm break there will complete a double bottoming pattern (0.9258, 0.9245), and turn near term outlook bullish. We'll see if that would happen. In Europe, at the time of writing, FTSE is up 0.52%. DAX is up 0.05%. CAC is up 0.35%. Germany 10-year yield is up 0.0232 at -0.211. Earlier in Asia, Nikkei dropped -0.64%. Hong Kong HSI dropped -0.59%. China Shanghai SSE rose 0.44%. Singapore Strait Times rose 0.39%. Japan 10-year JGB yield dropped -0.0104 to 0.036. |
