 Dollar's broad based rebound continues into early US session, as support by recovery in yields. While overall markets are trading in mild risk-off mode, there isn't much follow through selling in European stocks and US futures. The greenback's rally could be killed off quickly if risk sentiment turns. But for now, Dollar is the strongest one for today,, followed by Canadian and Swiss. Yen is the worst, followed by Euro and then Aussie. Technically, judging from momentum, if Dollar's rally is going to sustain, USD/JPY would likely be the first one to break through 142.45 minor resistance. Ideally, other pairs should follow, with EUR/USD breaking through 1.0092 support, GBP/USD through 1.1644 support, AUD/USD through 0.65231 support, USD/CHF through 0.9680- resistance and USD/CAD through 1.3494 resistance. Let's see if Dollar could do that. In Europe, at the time of writing, FTSE is up 0.02%. DAX is down -0.53%. CAC is down -0.25%. Germany 10-year yield is down -0.011 at 2.006. Earlier in Asia, Nikkei rose 0.16%. Hong Kong HSI dropped -1.87%. China Shanghai SSE dropped -0.39%. Singapore Strait Times dropped -0.66%. Japan 10-year JGB yield dropped -0.0078 to 0.246. |
