The forex markets are relatively directionless today, except overwhelming weakness in New Zealand Dollar. Sterling recovers broadly today on rumor that the EU is considering to offer a major Brexit concession to the UK. But there is so far no detail on the deal. Oversold condition also helps the pound gains some footing. But it's clearly not out of the woods yet. The next move in Sterling could depend on UK GDP to be released tomorrow. Swiss Franc is following as the second strongest one for today so far, with some help from softness in European stocks. Kiwi remains the worst performing one on dovish RBNZ rate decision. Australian Dollar reversed earlier gains and is trading as the second weakest. Dollar and Euro are mixed. In other markets, European indices are mixed for the moment. DAX is fluctuating between gain and loss. DAX is down -0.27% while FTSE is down -0.7%. Earlier in Asia, major indices closed mixed. China Shanghai SSE closed up 1.83% at 2794.38, can't hold on to 2800 handle. Hong Kong HSI rebounded 0.88%. But Nikkei and Singapore Strait Times are down -0.2% and -0.4% respectively. WTI crude breached 67 earlier today but is so far holding on this level. Gold continues to gyrate in tight range around 1210. Technically, a focus is 128.49 in EUR/JPY in today's session. Break will resume recent fall from 131.97 for 127.13 support level. 0.9920 in USD/CHF is another level to watch and a break there could drag the pair back towards 0.9866 support. Break of 0.8984 in EUR/GBP will also indicate temporary toping and bring retreat. |