 The markets are back on risk-off mode again today, while major global treasury yields trade higher. Stronger than expected ADP job data provides little support to over sentiment. Yen is leading the way higher, followed by Dollar and Swiss Franc. On the other hand, despite RBNZ delivering the expected rate hike, New Zealand Dollar is leading commodity currencies lower. Euro is also weak together, as pressured by Dollar, Yen and other European majors. Technically, EUR/USD's decline resumes by breaking 1.1561 temporary low. EUR/CHF hits as low as 1.0712 and it's on track to retest 1.0694 low. EUR/GBP's break of 0.8499 support should also set the stage for retesting 0.8448 low. A focus now is on whether EUR/AUD could sustain below 1.5898 structural support to indicate near term bearish reversal. In Europe, at the time of writing, FTSE is down -1.51%. DAX is down -1.70%. CAC is down -1.83%. Germany 10-year yield is up 0.005 at -0.179. Earlier in Asia, Nikkei dropped -1.05%. Hong Kong HSI dropped -0.57%. Singapore Strait Times rose 0.51%. Japan 10-year JGB yield rose 0.0275 to 0.085. | 
