Today we had Spanish CPI, German CPI and employment data all came out positive; but the biggest datas had to be the Final GDP and unemployment data from USD that both were better than expected.
WTI continued to move higher today but not as much momentum as yesterday due to doubt on OPEC plan details.
We also had few central bank comments today but nothing new.
Overall the market is still driven by the OPEC meeting agreement and climb of oil price, however, equity markets were mixed with positive and negative as lots of doubt overshadowing the OPEC details, also another negative tone from EURO as Duestche bank problems continued to grow and worry traders.
Sentimentally, EURO had benefited from month end inflow, however, it was also overshadowed by the negative news from German bank.
CHF had pressured from the OPEC meeting result, risk on sentiments and the intention for continuation of negative interest rate, however, it was also supported by the German bank negative news, OPEC doubt and doubt with the continuation of negative interest rate.
JPY was still attractive regardless of the risk on sentiment as the market itself is still fragile.
USD is still the fundamental strong currency and now seem to be largely driven by the sentiment and as one of the safe heaven currencies.
CAD of course is benefited by the surprisingly OPEC agreement but still many doubts ahead to pressure it.
NZD & AUD both were supported by risk on sentiment and are largely driven by sentiment nowadays as no major datas or comments; both central banks were concerned about inflation especially NZD has more possibility for a rate cut in the near future.
GBP is still the same, nothing much happened here, still fundamentally weak but would go on with the sentiment and pure price action of trend and retrace.
Technically,
EUR were doing better than commodity currencies and could be profit taking from past 2 days large bought in, especially when market is still doubtful for the actual OPEC details.
However, EUR was doing much worse than safe heaven currencies especially CHF and JPY, and this could be from its own worries from German bank.
But overall, EUR should still be benefited from month end buying.
GBP had no signifacant movement against other currencies and is in the range bound most of the time.
CHF had a large buying today and it could be the safe heaven status especailly the negative news from EUR, but it can also be the doubt from the negative rate from SNB to whether it could really be continued for a long time.
JPY actually had a buying power today due to market's doubt over OPEC, German bank issues and generally the cycle of market as we are in a retrace mode.
USD had a good day from positive datas and slightly risk off sentiment for today.
AUD & NZD & CAD both had a down day from the profit taking and slightly risk off sentiment and doubt over OPEC meeting.
WTI continued to move higher today but not as much momentum as yesterday due to doubt on OPEC plan details.
We also had few central bank comments today but nothing new.
Overall the market is still driven by the OPEC meeting agreement and climb of oil price, however, equity markets were mixed with positive and negative as lots of doubt overshadowing the OPEC details, also another negative tone from EURO as Duestche bank problems continued to grow and worry traders.
Sentimentally, EURO had benefited from month end inflow, however, it was also overshadowed by the negative news from German bank.
CHF had pressured from the OPEC meeting result, risk on sentiments and the intention for continuation of negative interest rate, however, it was also supported by the German bank negative news, OPEC doubt and doubt with the continuation of negative interest rate.
JPY was still attractive regardless of the risk on sentiment as the market itself is still fragile.
USD is still the fundamental strong currency and now seem to be largely driven by the sentiment and as one of the safe heaven currencies.
CAD of course is benefited by the surprisingly OPEC agreement but still many doubts ahead to pressure it.
NZD & AUD both were supported by risk on sentiment and are largely driven by sentiment nowadays as no major datas or comments; both central banks were concerned about inflation especially NZD has more possibility for a rate cut in the near future.
GBP is still the same, nothing much happened here, still fundamentally weak but would go on with the sentiment and pure price action of trend and retrace.
Technically,
EUR were doing better than commodity currencies and could be profit taking from past 2 days large bought in, especially when market is still doubtful for the actual OPEC details.
However, EUR was doing much worse than safe heaven currencies especially CHF and JPY, and this could be from its own worries from German bank.
But overall, EUR should still be benefited from month end buying.
GBP had no signifacant movement against other currencies and is in the range bound most of the time.
CHF had a large buying today and it could be the safe heaven status especailly the negative news from EUR, but it can also be the doubt from the negative rate from SNB to whether it could really be continued for a long time.
JPY actually had a buying power today due to market's doubt over OPEC, German bank issues and generally the cycle of market as we are in a retrace mode.
USD had a good day from positive datas and slightly risk off sentiment for today.
AUD & NZD & CAD both had a down day from the profit taking and slightly risk off sentiment and doubt over OPEC meeting.