- Japanese Yen tumbling, Aussies and Kiwis up on US/China trade deal hopes
- Euro swaying in a tight range around 1.1240-1.1280 region, a bounce is unlikely, as budget clash between Rome and Brussels dominating market sentiment
- Pound Sterling appears to be vulnerable, as Brexit negotiations wobbling
Yen, Aussie, Kiwi, Rome, Brussels, US and China market trends
The Euro and British pound were trying to correct in the Asia Pacific trading session, yet Euro fails to do so and stuck between a tight range lying close to 1.1250. While this report is being written, the Euro has been traded at 1.1260 and a further fallout is imminent, as Italian budget clash could not find its way towards any kind of resolution. However, British pound is acting in an unconventional way, as it is wobbling around the 1.2770 region and precaution is recommended while being in a Sterling buying position.
AUD and NZD were up today in the Asia Pacific trading session, as market sentiment soars on the verge of a US-China trade deal. Market is whipping up more risks towards Japanese yen, as it is traded closure to 113.95 and a thrilling move above 115.10 appears to be awaiting.
USD/JPY daily chart
While Japanese Yen upwind momentum is clogged up and further downtrend is imminent, USD is snowballing on a safe haven over 96.90 region. At this point, USD remains doughty, brave and persistent, as market remains equanimous by strong US economic growth.
At this standpoint, USD environment remains clement and adroit. EUR failed to become convictive, as it is struggling around its budget issues. GBP outlook still remains unclear, as Brexit hopes are swinging in a pendulous motion. If US-China trade deal could get away from a dialectic stall, AUD, NZD upwind momentum might sustain and Japanese Yen could dip further, eyeing 115.10 region.
Read more on Japanese Yen bullish pattern here
[Disclaimer: The content of this article is personal opinion and should not be considered as investment advice or suggestion towards any trading activity.]