The US dollar, represented by the US dollar index, switched gears Monday and turned lower, consequently snapping a two day-bullish phase. On the EUR/USD front, H4 support at 1.1221 (a prior Quasimodo resistance), maintained its presence, bolstered by H4 trend line support, taken from the low 1.0727.
Global Markets: Asian Stock Markets : Nikkei down 3.47%, Shanghai Composite down 1.02%, Hang Seng down 2.24%, ASX down 2.19% Commodities : Gold at $1724.85 (-0.72%), Silver at $17.26 (-1.26%), Brent Oil at $37.66 (-2.76%), WTI Oil at $34.78 (-4.08%) Rates : US 10-year yield at 0.664, UK 10-year yield at 0.178, Germany 10-year yield … Continue reading Monday 15th June: Asian markets continue to tumble
A favourable euro wind elevated EUR/USD over the past three weeks, recently delivering a blow to the 2020 yearly opening level at 1.1222. However, impetus lacked in recent trade after shaking hands with long-standing trend line resistance, extended from the high 1.2555.
Global Markets: Asian Stock Markets : Nikkei down 0.74%, Shanghai Composite down 0.04%, Hang Seng down 1.11%, ASX down 1.89% Commodities : Gold at $1737.40 (-0.14%), Silver at $17.71 (-0.99%), Brent Oil at $37.41 (-2.96%), WTI Oil at $35.11 (-3.38%) Rates : US 10-year yield at 0.684, UK 10-year yield at 0.194, Germany 10-year yield … Continue reading Friday 12th June: Asian markets lower as US tumbles on second wave fears.
USD longs made a comeback Thursday, with the DXY staging a stronger-than-expected recovery above 96.50. This firmly weighed on the euro, the largest component of the index making up almost 58%.
