Today is a quiet day for the economy so traders will be keeping an eye on how people are feeling about the market. There are no events happening that will affect the forex market so things will probably stay calm.
Japans Economy Watchers Sentiment is looking good it went up from 40.8 to 43.6 which is a sign for Japans economy.. Germanys Factory Orders are down by 2.2%, which might put a little pressure on the Euro. On the hand people are hoping that the Eurozone Sentix Investor Confidence and Switzerlands Consumer Climate data will be good which could make investors feel more positive.
During the session traders will be looking at data from Australia, New Zealand and China. Chinas Trade Balance is expected to go up from 586B to 637B yuan. The USD-denominated surplus is expected to reach $88.7B, which could make people feel more positive about risk and commodity currencies like the AUD and NZD. Because there are no economic events happening currency pairs will probably just stay in the same range today and the market will depend on how people are feeling and Chinas trade figures.
USD Weakness Drives Mixed Session Across Major Currency Pairs
The USD is a bit weak so it is having an effect on the major currency pairs. The EUR/USD is staying pretty stable between 1.15186 and 1.15197 while the GBP/USD is doing well up to 1.33282. The USD/JPY is not doing much, around 160.255 and the USD/CHF is also under pressure up to 0.79766. The AUD/USD and NZD/USD are not moving much just staying in the range.
There is movement in the cross pairs. The EUR/JPY is doing well up to 184.601 and the GBP/JPY is also strong up to 213.588.. The CHF/JPY and NZD/JPY are not doing well and the CAD/JPY is also weak around 114.904. So the European currencies are doing better against the USD and JPY. People are still not sure, about the yen crosses.
Global Geopolitical News
Global geopolitical developments were seen indirectly influencing forex market sentiment today. Investors remained focused on ongoing international tensions and policy expectations, due to which safe-haven demand was selectively reflected in currency pairs.
Risk sentiment in the market remained mixed, where occasional strength was seen in safe-haven currencies such as JPY and CHF due to geopolitical uncertainty, while risk-linked currencies such as AUD and NZD remained comparatively stable and range-bound.
Market Impacted Currencies: JPY, CHF, USD, AUD, NZD
