The Swiss Franc is recording lower levels due to the strength of the Dollar
The Aussie and Kiwi were major underperformers in the Asian trading sessions as Asian bourses recovered despite the negative lead from Wall Street.
The Yen which attempted to recover failed to sustain any kind of momentum and was consolidating against its major peers.
Asian equities retreated following an increase in US bond yields above 3% as warnings from bellwether US companies of higher costs drove fears that a boom in corporate earnings may be near its peak.
The probability of Federal Funds rate futures prices has been constantly decreasing in April, with market participants pricing in a chance of 3 more rate hikes by the end of 2018.
The dollar continues to advance getting near its recent 4-month high as the U.S. 10-year bond yield poked above 3 percent to hit its highest level since early 2014.
Ahead in the day, traders would await Switzerland’s ZEW expectations index for April.
USDCHF is expected to find support at 0.9780, and a fall through could take it to the next support level of 0.9750. The pair is expected to find its first resistance at 0.9820, and a rise through could take it to the next resistance level of 0.9840.
EURUSD: Intraday bias in EUR/USD remains on the downside for 1.2154 support.
GBPUSD: A temporary low is in place at 1.3915. Intraday bias in GBP/USD is turned neutral for consolidation.
USDCAD: The pair as not been moving drastically recently despite the strong move higher earlier.
USDCHF: Intraday bias in USD/CHF remains on the upside at this point.
USDJPY: Intraday bias in USD/JPY remains on the upside as rising from 104.65 is in progress.
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***Information contained in this newsletter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making but merely provides information from the market for its clients as additional information is made available as per the events occurring in the financial markets.
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