 Dollar drops broadly today in rather mixed markets. Firmer risk sentiment might be a factor. Yet, Swiss Franc is currently the strongest, followed by Kiwi and then Aussie. Yen is also just steadily mixed. On the other hand, Canadian Dollar is also weak, without much support from stronger than expected GDP data. Euro is also soft in general, except versus the greenback. Nevertheless, development in the stock markets and overall market sentiment would likely guidance the FX markets for now. Technically, it's still early to tell if Dollar is reversing. But AUD/USD has made some progress by breaking 0.7089 minor resistance. USD/CHF also breaks 0.9243 minor support. Attention will be on 1.1299 minor resistance in EUR/USD, 1.3523 minor resistance in GBP/USD, and 114.46 minor support in USD/JPY. Break of these level will at least put the greenback under some pressure for the very near term. In Europe, at the time of writing, FTSE is up 1.05%. DAX is up 1.12%. CAC is up 1.25%. Germany 10-year yield is down -0.0008 at 0.014. Earlier in Asia, Nikkei rose 0.28%. Japan 10-year JGB yield rose 0.0067 to 0.183. Hong Kong, China and Singapore were on holiday. |
