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Commodity Currencies higher on broad USD correction

USD in correction after the mix on non-farm payroll data and highlights on some stalling on wage pressure and inflation remains in steady tone. UST yield go lower and higher stock ends up with some USD profit taking as the market focuses shifting for tariff to Chinese goods driven more trade war risks globally. USDJPY higher on risk on sentiment, Nikkei and Dow higher and broad YEN cross short covering effect. Short term support at 110 and resistance at 110.80-00 region may still cover the daily movement more likely. USD remain in some correction move and trend may extend in short term.

EUR and EUR cross short covering drifted up gradually with risk for testing back around 1.18 handle in short term.

GBP gaps up in the morning with thin liquidity after Theresa May adopting more soft Brexit stance with maintain trade relation with EU. But Brexit minster David Davis resigned with a more higher difficulties for negotiations. GBP remains in news driven market and uncertainty remain capping the topside on GBP in short term.

Commodity currencies (AUDNZDCAD) higher on broad USD correction and more short covering ahead. On BOC meeting this coming Wednesday, the  market expecting a hike interest rate 0.25% to 1.5% despite the concern of global trade war risk.

Today US consumer credit, Fed’s Kashkari, ECB’s Praet and President Draghi speech as well as stock/bond market move will dominate the intraday action.

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