Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing New. PE

US Dollar .DXY) Index at 94.83 has come off from a high at 95.15 Monday. But, look for a move North toward 95.50 medium term, and 97.00 long term, while the supports at 94.50 and 94.00 hold.

EUR (Euro) at 1.1595 saw short-covering at 1.1553, just above my target zone at 1.1550-30. Major resistance at 1.1620 is still valid. Must see if it can push the single currency lower in here.

USD/JPY at 113.78 rose above 114.00 Monday to a high of 114.34, and has come off again. It is running into sustained selling every time it rises past 114.00. This is because the US-Japan 10yr Spread at 2.28% has been coming down and has broken a near-term rising trendline.

USD/CNY at 6.6393 has risen again ahead of the Trump/Xi meetings in Beijing

Stay tuned…

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