The US dollar index, measures the value of the US dollar against a basket of foreign currencies, remained on the backfoot Tuesday, aided by less-than-stellar US consumer confidence, with the unit poised to continue declining until reaching daily support at 98.45.
Global Markets: Asian Stock Markets : Nikkei down 3.34%, Shanghai Composite down 0.60%, Hang Seng up 0.04%, ASX down 1.60% Commodities : Gold at $1638.15 (-2.29%), Silver at $18.29 (-3.09%), Brent Oil at $56.34 (+1.02%), WTI Oil at $51.95 (+1.01%) Rates : US 10-year yield at 1.396, UK 10-year yield at 0.540, Germany 10-year yield … Continue reading Tuesday 25th February: Coronavirus continues to rule Asian markets.
Europe’s shared currency kicked off the week lower against the buck, pencilling in a decisive opening gap. Early Europe witnessed a run to 1.0805, before spiking to highs of 1.0841 amid a modestly better-than-expected German IFO print.
Global Markets: Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite down 0.28%, Hang Seng down 1.72%, ASX down 2.25% Commodities : Gold at $1669.85 (+1.28%), Silver at $18.66 (+0.72%), Brent Oil at $56.52 (-2.45%), WTI Oil at $52.13 (-2.34%) Rates : US 10-year yield at 1.473, UK 10-year yield at 0.590, Germany 10-year yield … Continue reading Monday 24th February: Asian markets drop as coronavirus catches up outside China.
After toppling the 2016 yearly opening level at 1.0873, channel support, taken from the low 1.1109, welcomed a test last week and held price higher. Producing a hammer candlestick formation (a bullish signal at troughs), the unit now faces 1.0873 as potential resistance this week.
