As Market Sentiments Weigh Heavy
One of our market insight on the currency front is the AUSSIE Dollar rise as the ASX 200 index above chart have also benefited from the USD weakness but more importantly Australia's growth have proven to take shape as the index have rallied to its six month high and stayed above the 6000k key price level.
With the Japanese Yen still gaining ground on its value the USDJPY just broke the 110.00 levels and its currently at 109.89 aiming the 107.80 - 108.00 range on the way lower with an extension that may not be discounted to surpass these levels. The USD's continued weakness has been the dominant factor in the Yen's rise on top of Yen repatriation gradual flow into equities contributed to the appreciation. Although, the NK225 is on a corrective mode price at 23941.11 from a high at 24129.34 due in part to the USDJPY decline as of today's market movement.
The DXY is at 89.90 as of this writing. And at the rate it's going the 87.50 - 88.80 basis point range is simply a stone's throw away from its objective. On the other hand, this also provided other markets to catch up on the US Equities all time highs and directional movement as an overall picture take into account. And more importantly the European majors like CABLE / GBPUSD and the EURO have gained so much from where they both started during the last quarter of 2017.
One of our market insight on the currency front is the AUSSIE Dollar rise as the ASX 200 index above chart have also benefited from the USD weakness but more importantly Australia's growth have proven to take shape as the index have rallied to its six month high and stayed above the 6000k key price level.
With the Japanese Yen still gaining ground on its value the USDJPY just broke the 110.00 levels and its currently at 109.89 aiming the 107.80 - 108.00 range on the way lower with an extension that may not be discounted to surpass these levels. The USD's continued weakness has been the dominant factor in the Yen's rise on top of Yen repatriation gradual flow into equities contributed to the appreciation. Although, the NK225 is on a corrective mode price at 23941.11 from a high at 24129.34 due in part to the USDJPY decline as of today's market movement.
The DXY is at 89.90 as of this writing. And at the rate it's going the 87.50 - 88.80 basis point range is simply a stone's throw away from its objective. On the other hand, this also provided other markets to catch up on the US Equities all time highs and directional movement as an overall picture take into account. And more importantly the European majors like CABLE / GBPUSD and the EURO have gained so much from where they both started during the last quarter of 2017.
The best ‘Open ‘SECRET’ of Foreign Exchange Trading is the ' US Dollar Index ' better known in the industry as 'DIXIE' or DXY symbol, with a continues technical data on the value of the US dollar traded and measured from a basket of major foreign currencies.
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