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Lacking of strength puts USD in sideway consolidation

USD rebounded slightly in Asian and earlier European session with the higher stock market, more bright side on US – China trade talks expectation and effect of steady USDJPY and YEN cross. After hitting a low of 104.64 earlier of the week USDJPY is in rebounding move with topside resistance at 106.00. USD will still in sideway consolidation with lack of further strength with Fed’s steady rate normalization path and 10 years UST yield remain capping under 3% despite of choppy stock on higher levels.

EUR maintain its uptrend slowly and orderly with base around 1.24 intraday with resistance at 1.25.

GBP lowers down after digesting the good news and further directions will still depend on Brexit news, BOE rate path and broad USD move. With support at 1.4120 and resistance at 1.4245 for intraday.

Today US data and stock/bond market move will direct the intraday action. The Later of the week month end re-balancing and position adjustment for Easter holiday will play more important part in the market.

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    Research Risk Warning

    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.