The market witnessed sterling spike higher on speculation UK PM May was to offer major concessions on Brexit in an effort to push a deal through Parliament.
The Australian dollar found broad support vs. the majority of its major rivals at the beginning of the week, a reaction to local elections: a surprise win for the Liberal-National coalition.
Global Markets: Asian Stock Markets : Nikkei down 0.20%, Shanghai Composite up 1.46%, Hang Seng up 0.08%, ASX up 0.17% Commodities : Gold at $1275.05 (-0.18%), Silver at $14.41 (-0.26%), Brent Oil at $72.20 (+0.32%), WTI Oil at $63.48 (+0.43%) Rates : US 10-year yield at 2.419, UK 10-year yield at 1.064, Germany 10-year yield … Continue reading Tuesday 21st May: Chinese markets recover as US eases restrictions on Huawei
US dollar index picked up steam, this sent the EUR/USD to a session low of 1.1155 into the week’s close. With limited support/demand visible to the left of current price until reaching Quasimodo support at 1.1130
Asia ex China gained, while China dropped, with investor sentiment bolstered by the positive cues overnight from Wall Street for a third straight session as upbeat corporate earnings results and U.S. economic data helped offset worries about U.S.-China trade tensions.