 Canadian Dollar steals the show in early US session after astonishingly strong employment data. It's followed by Yen, which had some jitters regarding new rumors about BoJ Governor nomination. European majors, on the other hand, are the weaker ones for today, in order of Euro, Swiss Franc and Sterling for now. Aussie and Kiwi are mixed, awaiting some guidance from risk markets. Technically, EUR/CAD resumed the decline from 1.4640. Prior rejection by 4 hour 55 EMA is a near term bearish signal. Next focus is 1.4232 support. Firm break there should confirm that a correction to whole rally from 1.2867 has started, and target 38.2% retracement of 1.2867 to 1.4640 at 1.3963. If that happens, it will more likely be accompanied by extended correction in EUR/USD, than breaking of 1.3224 key support in USD/CAD. In Europe, at the time of writing, FTSE is down -0.64%. DAX is down -1.34%. CAC is down -1.17%. Germany 10-year yield is up 0.039 at 2.340. Earlier in Asia, Nikkei rose 0.31%. Hong Kong HSI dropped -2.01%. China Shanghai SSE dropped -0.30%. Singapore Strait Times rose 0.04%. Japan 10-year JGB yield is down -0.0069 at 0.491. |
