 Dollar rebounds broadly today as US futures turn south, pointing to a lower open. Yen is back under some selling pressure. But Euro is also weak despite stronger than expected consumer inflation data, while Sterling and Swiss Franc are also soft. Commodity currencies are mixed with Canadian Dollar on the weaker side. But overall, traders are probably just repositioning ahead of RBA, FOMC and BoE rate decisions. Technically, with Dollar's rebound, one immediate focus is now on 0.6371 minor support in AUD/USD. Break will indicate that rebound from 0.6169 has completed and bring retest of this low. The move could come as reaction to RBA rate decision, or even before. And, if happens, that could be a pre-signal of more upside in the greenback. In Europe, at the time of writing, FTSE is up 0.22%. DAX is up 0.24%. CAC is down -0.16%. Germany 10-year yield is up 0.01 at 2.110. Earlier in Asia, Nikkei rose 1.78%. Hong Kong HSI dropped -1.18%. China shanghai SSE dropped -0.77%. Singapore Strait Times rose 1.11%. Japan 10-year JGB yield rose 0.0027 to 0.245. |
