EURUSD grids up on broad USD weakness as well as in higher EUR cross effect. The 10 years UST yield lower down to 2.843% which adding some pressure for USD. Today in the market a less US data (NFIB Business Optimism Index Jan) and is still waiting on tomorrow’s US inflation data for more direction hints. With support at 1.2280 and resistance at 1.2380 still to prefer buying on dips with tight stop strategy.
USDJPY after Japan back from holiday with Nikkei turning lower on close (-0.65%) as well as lower UST yield (10 years 2.843%), JPY cross grids down as well as the technical break at 108.00-20 support for the long awaited downside target of 107.32 (Sept 2017 low). Today the US NFIB Business Optimism index and stock/bond market move will have some intraday impact with support at 107.32 and resistance at 108.20 still to prefer selling on rallies with tight stop strategy.
GBPUSD around similar level from yesterday despite the weakening of broad USD with the GBP cross under pressure effect which offsets the USD. Today the UK retail sales, PPI and CPI data will direct the intraday action with any surprises will add more volatility for the GBP and GBP cross. With support at 1.3800 and resistance at 1.3920 still to prefer in range trading with tight stop strategy.
USDCHF lower slightly on broad USD weakness and lower USDJPY effect. The coming down of EURCHF also add some indirectly pressure for the pair. Today the US NFIB Business Optimism Index as well as stock/bond market move will have some intraday impact with support at 0.9300 and resistance at 0.9395 still preferring in range trading with tight stop strategy.
EURJPY grids down on lower USDJPY effect with the UST yield lower as well as broad USD weakness and with Nikkei moving down it also add some pressure in the short term risk-sentiment. Today the US NFIB business Optimism index and stock/bond market move will have some intraday impact with support at 132 and resistance at 133 still prefer to sell on rallies with tight stop strategy.
EURGBP grids higher on broad GBP cross weakness effect. Today the UK retail sales, PPI and CPI data will have some impact for GBP and GBP cross and any surprises will set the volatile movement more. Overall GBP cross remains under pressure on current fragile risk sentiment and Brexit negotiation uncertainty effect despite of BOE urging for a hike rate around May or August in the market perception. With support at 0.8870-75 and resistance at 0.8920 and 0.8960 still prefer to keep buying on dips with tight stop strategy.
GOLD grids higher by the weakness on broad USD, oil rebound and effect of higher commodity currencies. Also some physical demands still remains in ahead of Chinese New Year Golden Week holiday but UST yield lower slightly (10 years 2.843%) and US stock rebound (DJI +1.7%, S&P +1.39%, Nasdaq +1.56%) might still capping the topside. The overall trend remains constructive and today the US NFIB Business Optimism Index as well as stock/bond market move will dominate the intraday action with support at 1320 and resistance at 1340 still prefer to buy on dips with tight stop strategy.
Silver higher slightly with the same direction of GOLD and the broad USD weakness also adding more support for metal. Today the US NFIB Business Optimism Index and stock/bond market move will have some intraday impact with support at 16.35-40 and resistance at 16.95-00 still preferring to buy on dips with tight stop strategy.