 European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer ones overall. Dollar and Yen are mixed for now. Technically, as European majors are gaining against Dollar, focus is back to respective pair. In particular, firm break of 0.9840 support in USD/CHF will complete a double top pattern, which is rather near term bearish. That would also complete with decisive break of 55 day EMA, and open up deeper fall to 0.9478 support. In Europe, at the time of writing, FTSE is down -0.23%. DAX is up 0.80%. CAC is up 0.11%. Germany 10-year yield is down -0.0336 at 2.268. Earlier in Asia, Nikkei rose 1.21%. Hong Kong HSI rose 2.69%. China Shanghai SSE rose 0.23%. Singapore Strait times rose 0.36%. Japan 10-year JGB yield rose 0.0015 to 0.258. |
