Psychology for major markets Apr 30
Waiting for Central Banks
EUR/USD – The Euro is retesting support around 1.1690 area. Key driver remains on the broader geopolitical picture and ECB later in the session.
USD/JPY – USD/JPY rotated higher after Ueda's press conference not being too hawkish as he emphasize the potential impact of oil shock towards growth. It subsequently attracted both Katayama and Mimura's verbal intervention. The rhetoric has been escalated and mentioned co-ordination with U.S. counterparts. The jawboning successfully drove USD/JPY a figure lower. However, without commitment from the BoJ or easing geopolitical tension, such drop is destined to be short-lived.
AUD/USD – The Aussie has met overhead resistance level around 0.7190 area. Without support from upbeat risk sentiment and precious metal, it will be hard to see further rally.
Equities & Others – Broader risk atmosphere slightly improves but lack fundamental drive. Any headline will likely shift the broad risk sentiment with little forecast to be done.