Swiss Franc remains the runaway leader for the week so far. Dollar and Canadian are competing for the second place. On the other hand, New Zealand Dollar is the worst, followed by Sterling and then Euro. Yen is mixed for now. Overall market sentiment is indecisive with stocks lacking follow through buying to the near term rebound. Treasury yields are also extending sideway trading. Gold turns softer but stays bounded in familiar range. Technically, EUR/CHF's breach of 0.9970 low suggests long term down trend resumption. GBP/CHF is in downside acceleration. The first question is, whether that would eventually translate into break of 1.0358 support in EUR/USD, or 1.1932 support in GBP/USD, or both. The second question is, whether EUR/GBP will stay range bound or find a way to breakout. The interplays are worth a watch. In Asia, Nikkei dropped -1.67%. Hong Kong HSI is down -0.18%. China Shanghai SSE is up 1.35%. Singapore Strait Times is down -0.46%. Japan 10-year JGB yield is down -0.0046 at 0.228. Overnight, DOW rose 0.27%. S&P 500 dropped -0.07%. NASDAQ dropped -0.03%. 10-year yield dropped -0.113 to 3.093. |