26 Aug 2015
US Dollar under pressure, Shanghai up in early trade
FXStreet (Bali) - The US Dollar remains under pressure across the board, with the Chinese markets now underway, up over 1.5% in the first few minutes, and the chances of a 2015 Fed hike being evaporated as days go by and volatility stays.
FX levels
EUR/USD continues to challenge highs around 1.1530/40, although way off its early Asia spike high at 1.1560. AUD/USD has seen selling resuming to test bids circa 0.7110, which have produced a solid bounce to 0.7130. USD/JPY has seen the 119.00 re-taken again by the bears after offers capped the recovery around the 119.20 level.
Risk aversion market, small 'risk-on' hiccups
The general market dynamics remain very much risk-off, although some profit-taking and a positive start in the Shanghai composite, together with the paring of losses by the S&P500 futures, currently at +0.2% from down over 1.15% earlier in the Asian session, are helping to see AUD, NZD off highs, while weight on EUR and JPY.
FX levels
EUR/USD continues to challenge highs around 1.1530/40, although way off its early Asia spike high at 1.1560. AUD/USD has seen selling resuming to test bids circa 0.7110, which have produced a solid bounce to 0.7130. USD/JPY has seen the 119.00 re-taken again by the bears after offers capped the recovery around the 119.20 level.
Risk aversion market, small 'risk-on' hiccups
The general market dynamics remain very much risk-off, although some profit-taking and a positive start in the Shanghai composite, together with the paring of losses by the S&P500 futures, currently at +0.2% from down over 1.15% earlier in the Asian session, are helping to see AUD, NZD off highs, while weight on EUR and JPY.