CAD and AUD are the top G10 FX gainers today, up 0.22% and 0.19% vs the dollar while NZD and EUR are the top losers, down -0.15% and -0.12% vs the dollar. EUR slipped further after Italy’s government agreed to a budget overnight (which will raise countries debt) seen by some as going against the EU. The market will now focus on preliminary inflation reading where an above-expected print may help EUR stabilize. Elsewhere, AUD and NZD also fell versus USD squeezed by the falling rate differentials. Overall, we expect some risk-off trading heading into the weekend as today is also the last trading day of the month. In the Asian equities space, the Nikkei 225 closed up 1.36% at 24,120.04, Hang Seng closed 0.1% at 27744.33 and Kospi ended -0.52% at 2343.07. The European equities were trading weaker with the FTSE down -0.13% at 7535.74, DAX down -0.81% at 12335.22, and CAC down -0.55% at 5509.97. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 3.0519% and the Bund 10-year yield trading at 0.502%. In the energy space, the Brent (front month) is trading up (0.22%) for the day at $81.9.
Short-term view: EUR/USD resistance comes in at 1.1679, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 1.1579. Above 1.1679 to open 1.1754
Short-term view: GBP/USD resistance comes in at 1.3113, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 1.300. Above 1.3113 to open 1.3152
Short-term view: USD/JPY support comes in at 113.14, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 114.06. Below 113.14 to open 112.60
Short-term view: AUD/USD resistance comes in at 0.7249, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 0.7160. Above 0.7249 to open 0.7304
Short-term view: BTC/USD support comes in at 6615.95, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 6922.62. Below 6615.95 to open 6497.09.