EURUSD goes lower with broad USD in rebounding state and higher UST yield. Together with the stabilize US stock market, it driven the move and news of US Senate and House reaching an agreement for debt ceiling issue that will encourage more USD correction in later NY session. Today the US data and stock/bond market move will have some intraday impact and EUR cross will remain driven for the EUR in short term. With support at 1.2220 and resistance at 1.2305 prefer the in range trading with tight stop strategy.
USDJPY in rebounding move on broad USD correction trend with higher UST yield and stable US stock market which driven the move. Today Kuroda’s repeated persistence on unchanged QE policy will have little impact for the pair. Later the US data and stock/bond market move will have some intraday impact with support at 109.20-25 and resistance at 110.00-10 to still prefer in range trading with tight stop strategy.
GBPUSD lowers gradually on broad USD strength, stable stock and a higher UST yield effect. Today is a UK super Thursday as BOE and QIR as well as the market expects the interest rate to be unchanged at 0.5% with a 9-0 vote and keeping the asset purchase target at GBP435 Billion to be unchanged as well. Also the quarterly inflation report will see the BOE view on future inflation, as well as Carney speech after the meeting will dominate the intraday action. Also any news and headlines from Brexit negotiation will have have some impact for GBP and GBP cross with support at 1.3820-30 and then 1.3760 with resistance at 1.3910-20 and 1.3960-70 still preferring to keep selling on rallies with tight stop strategy.
USDCHF rebounds on overnight USD rally and higher UST yield. Also EURCHF cross support the pair’s recovery as well as the stabilize stock market helping some risk trade reverse that drives the pair to go over 0.94 handle again. Today US data and stock/bond market move will have some intraday impact with support at 0.9395-00 and resistance at 0.9500 to still prefer in range trading with tight stop strategy.
EURJPY goes lower despite the higher USDJPY and some risk off trade reverse due to lower EUR and broad EUR cross profit taking in overnight effect. Today the US data and stock/bond market move will have some intraday impact with support at 133.80 and resistance at 134.80 as the current level preferring in range trading with tight stop strategy.
EURGBP pulls back on broad EUR cross profit taking overnight as the cross remain in base building process. Today UK in Super Thursday and expects the GBP move will direct the EURGBP action with support at 0.88 and resistance at 0.8900-10 still to prefer buying on dips with tight stop strategy.
GOLD lowers further on broad USD recovery and higher UST yield, And together with stock market in stabilize effect, the market remains in position adjustment and downside real money demand at 1300 handle that will give some support for the pair on intraday. With topside resistance at 1320 and 1325, the US data and stock/bond market move will direct the intraday action as current level remain to prefer in range trading with tight stop strategy.
Silver lowers in the same direction with GOLD. And broad USD strength will be adding some pressure for the metal as well. Today the US data and stock/bond market move will have some intraday impact with support at 16.25 and resistance at 16.65-70 still to prefer in range consolidation pattern continuation.