Entering into US session, Dollar is back under broad based selling pressure as trade war fear receded. It’s taking turn to be the weakest one with Japanese Yen. Sterling and Australian are not doing much better. Both are somewhat left behind in the general sell-off against the greenback. Swiss Franc overtakes Euro to be the strongest one today, followed by Canadian Dollar and then Euro. While the Loonie is strong on “NAFTA” progress, its fate will very much lies on the result of Foreign Minister Chrystia Freeland’s visit to Washington today.
In other markets, Gold’s upside momentum has apparently weakened somewhat. But its, nevertheless, staying in the rebound from 1160.36. It’s on course for 1238.62 fibonnaci level. European stocks open higher today but apparently lost momentum quickly. FTSE hit as high as 7636.72, but it’s now at 7601, up 0.32%. DAX reached 1259702 but is now back at 12550, up 0.10% only. CAD reaches 5494.53 stays firm at 5490, but it’s just up 0.2%. European investors are not as excited on the US-Mexico trade deal as American traders.
At the same time, we’d also like to point to the developments in Asia too. Nikkei jumped to 23006.77 in initial trading and almost touched 23050.39 key resistance. But the index the turned south to close at 22417.23, just up 0.06%. It seems like after some impulsive stimulus, investors were quick to calm down.
