 Overall, the markets are quiet in holiday mood today. Dollar remains the worst performer for the week, followed by Canadian. Next is Euro, which is receiving no support from the slight improvement in Germany consumer sentiment. Sterling is currently the strongest one for the week. New Zealand Dollar follows as second as supported by retail sales data. Yen attempted a rally overnight but there is no clear follow through buying so far. Technically, a focus before the weekly close is whether Dollar will finally break through recent support against others. The levels include 1.0481 resistance in EUR/USD, 0.9355 support in USD/CHF and 137.66 support in USD/JPY. At the same time, if USD/JPY resumes recent decline, a focus will be on whether other Yen crosses will follow, say, with EUR/JPY breaking through 142.54 support. In Asia, Nikkei closed down -0.35%. Hong Kong HSI is down -0.48%. China Shanghai SSE in up 0.40%. Singapore Strait Times is down -0.28%. Japan 10-year JGB yield is up 0.0063 at 0.255. |
