Today we had another positive data for GBP, the construction PMI was higher than expected and previous.
Then we had EURO PPI m/m that was negative than expected and previous.
Finally the GDT price from NZD was very negative than previous.
Later tonight we'll have retail sales m/m from AUD.
Sentimentally, we had mixed equity markets today with green in Asia and European equities but red across all U.S equities.
WTI had another green day but now is right below the strong resistance of $50.
Overnight we saw AUD kept interest rate on hold with a neutral statement.
NZD was overshadowed by the drop of the GDT price.
There is no major news in CAD but WTI is still edging higher to help it.
ECB announced the possibility to taper assets purchase program before the end of quantitative easing, which perceived as a positive news for EURO.
GBP was still negative sentimentally and will most likely be sold off continuously due to the uncertainty in the future.
No significant news for safe heaven currencies in CHF, JPY & USD and all acted with risk on/off sentiment accordingly for now.
Technically,
EURO had great strength against all currencies except USD, the sentiment really shifts for it from the possibility of taper assets purchases, however, EURO still has negative sentiment from UK.
GBP kept edging lower due to negative sentiment, however, we couldn't find any entry signal as we'd be selling at low if we enter now. Several pairs had showed reversal signals already and GBP pairs are largely at historical low, we should expect to see a rebound anytime soon and then hopefully that can give us a good entry.
CHF & JPY had no real movement while USD continues to be the rising star against all currencies.
AUD lost its strength today regardless of the rate decision; of course this could be short-term sentiment as there is really no fundamental change in AUD and if any, it should be positive as the risk of rate cut has been removed temporary for now until next meeting.
NZD also lost the strength as the risk tone has turned and the rate unchanged decision from RBA has somehow increased the rate cut decision in NZD; meaning now more money will flow into AUD instead of NZD. And of course, NZD also suffered from the negative GDT price today.
Finally CAD did not seem to benefit too much from WTI as mentioned, we're near the strong resistance of $50 and traders are aware of it now.
Then we had EURO PPI m/m that was negative than expected and previous.
Finally the GDT price from NZD was very negative than previous.
Later tonight we'll have retail sales m/m from AUD.
Sentimentally, we had mixed equity markets today with green in Asia and European equities but red across all U.S equities.
WTI had another green day but now is right below the strong resistance of $50.
Overnight we saw AUD kept interest rate on hold with a neutral statement.
NZD was overshadowed by the drop of the GDT price.
There is no major news in CAD but WTI is still edging higher to help it.
ECB announced the possibility to taper assets purchase program before the end of quantitative easing, which perceived as a positive news for EURO.
GBP was still negative sentimentally and will most likely be sold off continuously due to the uncertainty in the future.
No significant news for safe heaven currencies in CHF, JPY & USD and all acted with risk on/off sentiment accordingly for now.
Technically,
EURO had great strength against all currencies except USD, the sentiment really shifts for it from the possibility of taper assets purchases, however, EURO still has negative sentiment from UK.
GBP kept edging lower due to negative sentiment, however, we couldn't find any entry signal as we'd be selling at low if we enter now. Several pairs had showed reversal signals already and GBP pairs are largely at historical low, we should expect to see a rebound anytime soon and then hopefully that can give us a good entry.
CHF & JPY had no real movement while USD continues to be the rising star against all currencies.
AUD lost its strength today regardless of the rate decision; of course this could be short-term sentiment as there is really no fundamental change in AUD and if any, it should be positive as the risk of rate cut has been removed temporary for now until next meeting.
NZD also lost the strength as the risk tone has turned and the rate unchanged decision from RBA has somehow increased the rate cut decision in NZD; meaning now more money will flow into AUD instead of NZD. And of course, NZD also suffered from the negative GDT price today.
Finally CAD did not seem to benefit too much from WTI as mentioned, we're near the strong resistance of $50 and traders are aware of it now.