 Dollar rises broadly in rather quiet markets today. Consumer inflation data from the US is supporting the greenback's firmness, but provides not further lift. Indeed, Swiss Franc is even stronger, as the best performing one today so far. China Yuan is also notably stronger than Dollar, after US scrapped the China's currency manipulator label. On the other hand, New Zealand Dollar is the weakest one, followed by Euro. The common currency is dragged by the selloff in EUR/CHF. Focus will now turn to tomorrow's US-China trade deal phase one signing. Technically, EUR/CHF broke 1.0782 temporary low to resume medium term down trend. Next target is 1.0648 projection level. Selloff in EUR/CHF drags down both EUR/GBP and EUR/JPY, as the latters failed to sustain above recent resistance level. It looks like EUR could engage in more consolidative trading against Sterling and Yen first. AUD/USD's recovery is starting to lose momentum ahead of 0.6930 minor resistance. We might see a retest on 0.6849 temporary low later in the session, should Dollar gathers some steam. In Europe, currently, FTSE is up 0.08%. DAX is down -0.10%. CAC is down -0.06%. German 10-year yield is down -0.0094 at -0.168. Earlier in Asia, Nikkei rose 0.73%. Hong Kong HSI dropped -0.24%. China Shanghai SSE dropped -0.28%. Singapore Strait Times rose 0.60%. Japan 10-year JGB yield rose 0.0146 to 0.015. |
