Overall market sentiment improved a lot after Russia said it pulled back some troops near the border of Ukraine. As worries of imminent war eased, Gold and oil price dip notably, while stocks rebound. Euro is staging a recovery, together with Aussie and Kiwi. On the other hand, Yen and Dollar are turning softer, together with Canadian. Sterling and Swiss Franc are mixed for the moment. Technically, EUR/USD has somewhat defended 1.1265 minor support for now, maintaining mild near term bullish bias. There is prospect of extending the rebound to retest 1.1483 key near term resistance. Meanwhile, EUR/JPY could also be heading back to 133.13/133.44 resistance zone. But is should be noted level these levels would also be broken if the Russia/Ukraine situation is totally cleared. In Europe, at the time of writing, FTSE is up 0.79%. DAX is up 1.61%. CAC is up 1.29%. Germany 10-year JGB yield is up 0.040 at 0.322. Earlier in Asia, Nikkei dropped -0.79%. Hong Kong HSI dropped -0.82%. China Shanghai SSE rose 0.50%. Singapore Strait Times rose 0.01%. Japan 10-year JGB yield dropped -0.0019 to 0.216. |
