Gains for the USD continue to follow thorugh this morning as well. Sunday’s announced deal between the US, Mexico and Canada has helped garner support for the buck. Howver some hesitation starts to creep in as we distance ourselves from Sunday’s anouncement.
USDJPY is starting to look south after the 10-month highs of 114.06 reached on Monday. So far losses are still very much contained. For the daily scenario Realtimeforex.com’s TraderTip sees upmoves contained at yesterday’s highs with a likely downmove target of 113.72/113.53 – a move above 114.25 would naturally abort this scenario.
The USD is overall in positive this morning, but is close to flat against the GBP and the CHF, and also losing against the aussie and the loonie apart from against the JPY.
Earlier this morning the Reserve Bank Of Australia (RBA) kept cash rate on hold at 1.5% as was widely expected. Rates for the RBA have stood still since August 2016 and Governor Lowe, while noting the strong growth for the Australian economy in the past year, also added that US trade policy is creating an ongoing uncertainity for global trade.
Later on today we look on to EZ PPI and the Fed’s Powell is expected to speak at the NABE Conference in Boston.
