Title - USD Surge and AUD Weakness Here's Why
Created 10/01/2019 at 09:22AM
USD and EUR are the top G10 FX gainers today while AUD and SEK are the top losers, down -0.77% and -0.59% vs the dollar. The U.S. dollar reached a 29-month high as signs of strength in the domestic economy and uncertainty over the China-U.S. trade war helped the Greenback. The Australian dollar fell to a month low after the RBA cut rates to an all-time low of 0.75% and hinted at more easing if needed.
Elsewhere, Sterling found support around three-week lows as investor eyed Prime Minister Boris Johnson proposal for Brexit.
In the Asian equities space, the Nikkei 225 closed 0.59% higher at 21,885.24, Hang Seng closed 0.0% at 26092.27 and Kospi ended 0.45% at 2072.42. The European equities were trading mixed with the FTSE -0.18% at 7395.21, DAX 0.06% at 12435.99, and CAC 0.04% at 5679.8.
In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7495% and the Bund 10-year yield trading at -0.517%. In the energy space, the Brent (front month) is trading down (-1.51%) for the day at $59.86.
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Major Currency Pairs
EURUSD Chart (Two-week)
Strategy: Resistance at 1.0924 for 1.0840
GBPUSD Chart (Two-week)
Strategy: Resistance at 1.2339 for 1.2265
USDJPY Chart (Two-week)
Strategy: Resistance at 108.81 for 108.01
AUDUSD Chart (Two-week)
Strategy: Resistance at 0.6750 for 0.6650