Asian equities are faring well to start the day, but that's not helping currency traders
The biggest gainer on the day is the AUD, and even then it's not an impressive one as it is just 0.1% higher against the USD.
Other major currencies remain sidelined so far in Asian mid-day trading, and it's looking to be one of those days in the market. Though we do have UK CPI report due later in the day that could shake things up a little.
But for now, the market is as quiet as it can possibly be and the ranges and movement as shown above highlights that.
Despite the positive momentum in equities since yesterday, you get the sense that the market sentiment is still fragile and investors are having to constantly check their rear-view mirror in case of a return of the ugliness that we saw last week.
Well, the cautious approach isn't entirely wrong at this point as tomorrow we'll have one of the key data points that potentially could influence market sentiment for the rest of the week. So, it appears like the market is looking like it's gearing up for that.
Anyway, here's what the ranges for the major currencies bloc against the greenback so far today:
- EUR/USD - 22 pips
- USD/JPY - 24 pips
- GBP/USD - 21 pips
- USD/CHF - 17 pips
- USD/CAD - 24 pips
- AUD/USD - 26 pips
- NZD/USD - 21 pips
Exciting stuff, eh?
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