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EUR/USD: Euro trades below $1.2400 amid sliding German Yields
The EUR/USD is trading just below the $1.2400 level, marginally down on the day and erasing previous gains. The mood in markets remains negative after stocks dropped in the US and Asia. German 10-year bond yields are trading at their lowest since January.
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USD/JPY: Dollar stabilizes amid the announcement of an inter-Korean Summit
The USD/JPY is trading around ¥106.50, down from near ¥107.00. North Korea's Kim will meet South Korea's Moon on April 27th, another step towards peace that pushes money away from the safe-haven yen. The fiscal Year 2017 draws to an end in Japan and last-minute portfolio adjustments are abundant.
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USD/CHF neutral to positive above 0.9425 – Commerzbank
USD/CHF Resistance line eroded last week saw a slight erosion of the 4-month resistance line. It was not enough to reignite topside interest, but it did stop out our short positions. We are neutral to positive while above the 14th March low at .9425. The move above .9570 allows for a rally to the 200-day moving average at .9658. This guards the .9688/.9703 55 and 200-week moving averages.
We are still of the opinion that the cross formed a bottom at .9188
Failure .9425 will allow for slippage towards the next lower support at .9339/25 (the late February and current March lows)
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Inflation rate has huge impact on the Forex market. US dollar is a mostly traded currency on the trade markets so every investor has huge interest in the inflation rate of the United States of America. The technical analysis include the news impacts as well.