• The broader financial markets mood has improved since Wednesday. 
  • Safe haven prices dive as trade talks on, Silver dips nearly 4.5% and Gold by 2.50%. 

 Overnight G10 currencies set to trade higher against the USD. Overall G10 currencies movement was mostly upbeat this week, so far. AUD leads the pack with 1.30%, followed by GBP 1.20%.

On Thursday, the dollar index (KTM: USDX) lost the 20MA but managed to close above by the end of the day, and US 10TY closed at 1.57$, up from Wednesday’s closing 1.47%. 

Geppy has made a significant move this week. Geppy refers to the GBPJPY. 

JPY crosses surges on trade talk progress. Our long GBPJPY view has made 200pips so far and USDJPY made 70 pips. 

In commodities Silver was beaten down -4.50% followed by Gold with 2.50%.

In Crypto space, Bitcoin is facing stiff resistance at 50MA located at 10650 above here key resistance seems at 10940$. As long as 10940 is resistance wait for a retracement towards support levels located at 10340 and 10260. A deep cut could be expected if the cryptocurrency lost 10260$ 

Money Market: US 10y Treasury yields closed overnight at 1.57%, up from 1.47% on Wednesday.

  • The day ahead: It’s relatively quiet in terms of data-wise in Asia. Things will pick up in the US with US non-farm payrolls for August. 

 

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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