Asia FX Handover - 18th March 2019
Matt Simpson March 18, 2019 5:29 AM
Sentiment was off to a mildly positive start ahead of Wednesday’s Fed meeting, with index futures edging higher and Chinese equities leading the way.
Exports from Japan contracted by -1.2% versus -0.9% forecast, as global growth and trade woes continue to bite. Having now fallen for three consecutive months, this is the longest streak of negative annual returns since November 2016.
Gold is back below $1300, trading in a narrow range after Friday’s bullish inside day. US10Y remains below 2.6%, DXY is stuck near Friday’s low around 96.50whilst WTI trades cautiously near its highs, after finding resistance at its 200-day eMA and producing two daily spinning top doji’s last week.
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