Broad-based US dollar selling, triggered by a sharp drop in 10-year Treasury yields, appears to be the primary catalyst behind the recent upsurge.
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Wednesday 23rd January: The mighty greenback preserves gains above 96.30 – firmly holding ground above monthly supply-turned support area at 95.13-92.75.
On the data front, the ZEW Indicator of Economic Sentiment for Germany recorded an increase of 2.5 points in January 2019, and now stands at minus 15.0 points.
Tuesday 22nd January: UK employment figures eyed in early London.
Technical signals on the bigger picture, as you can probably see, are mixed. Weekly flow portends further buying may be on the cards, while daily sellers are defending nearby supply.
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Friday 18th January: Asian markets higher on trade optimism
Asian stock markets, led by Japan, are in positive territory on Friday amid optimism that U.S.-China trade tensions may ease after the Wall Street Journal said the U.S. is considering lifting tariffs on Chinese goods.