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Sep 30 - 01:55 AM

EUR/USD - Soft As Turbulent Stocks Dominate Month End In Asia

By Andrew M Spencer  —  Sep 29 - 11:45 PM
  • Trades -0.05% in a 1.1156-1.1173 range, side lined by Asian stock volatility

  • Nikkei trades down 4.65% as JGB yields jumped, JP10YT=RR +6bp to 0.86%

  • SSEC is up +5.5%, led by the property sector as Politburo pledged support

  • The far right won the Austrian election, but not certain to lead a coalition

  • Speeches from ECB President Lagarde and Fed Chair Powell are key offshore

  • Charts - daily momentum studies flat-line, 21-day Bollinger bands rise

  • 5, 10 & 21-day moving averages edge higher - overall a modest topside bias

  • Wednesday's 1.1214 high and 1.1271, 0.618% 2021/22 fall are first resistance

  • Last week's 1.1084 low, then the 1.1068 Sep 19th base are initial supports

  • 1.1120/25 1.128BLN and 1.1200 1.124BLN close Sep 30 strikes

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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