On Tuesday the USD managed to recover some pf the earlier losses, losses that had pushed the USD to 6-months lows. On the US Dollar index (DXY) the USD is still preserving yesterday’s gains and has so far showed signs of more gains.
A rise in the yield for 10-yr treasuries, as relative prices dropped, helped support the USD.
EURUSD peaked to highs of 1.1267 on Tuesday but closed the session at 1.1181. EURUSD is currently at 1.1179 – with the USD regaining some confidence it is likely that EURUSD may feel the drag lower. TraderTip sees a potential fall to 1.1150 as long as resistance at 1.1208/1.1225 holds.
So far the sentiment has been rather mixed during the Asian session. Moody’s downgraded Chinas’s credit rating (from A1 to Aa3) but changed its outlook from negative to stable. The Aussie has reacted negatively and is a loser across the board this morning.
The highlights of today’s economic calendar go for ECB President Mario Draghi’s speach in Madrid, BoC rate decision, and the FOMC minutes later this evening.
