Risk-off sentiment is back in Asia today, after US stocks were sold off on poor consumer confidence data. In the currency markets, trading is relatively subdued, with Euro and Dollar trading in soft tone. Canadian Dollar and Swiss Franc are the strongest ones for the week. In particular, Swiss Franc is extending up trend against Yen and Sterling. Kiwi is currently the worst performing, followed by Yen and Sterling. Euro and Dollar are mixed. Technically, EUR/JPY appears to be rejected by 144.23 resistance. Break of 141.39 minor support will bring deeper fall back towards 137.83 support level. If that happens, selloff off in Euro could overnight Yen, which could be seen in renewed pressure in EUR/CHF, and push EUR/USD back towards 1.0339 long term support. In Asia, at the time of writing, Nikkei is down -1.10%. Hong Kong HSI is down -1.63%. China Shanghai SSE is down -0.77%. Singapore Strait Times is up 0.37%. Japan 10-year JGB yield is down -0.0026 at 0.231. Overnight, DOW dropped -1.56%. S&P 500 dropped -2.01%. NASDAQ dropped -2.98%. 10-year yield rose 0.012 to 3.206. |
