Dollar trades broadly lower again today, as pressured by generally positive risk-sentiment. Yen is following as the next weakest. Canadian Dollar is also soft as WTI crude oil is struggling below 90 handle. On the other hand, Australian Dollar and New Zealand Dollar are trading broadly higher. Sterling and Swiss Franc are mixed for now. The US economic calendar is empty today. Investors will likely hold their bet until tomorrow's US CPI release. Technically, focus is now back on 1.1482 key resistance in EUR/USD. As noted before, sustained break there will at least confirm medium term bottoming at 1.1120, and raise the chance of bullish trend reversal. Further rally should then be seen to 38.2% retracement of 1.2348 to 1.1120 at 1.1589 next. If this happens, attention will also be on whether EUR/GBP would break through 0.8467 temporary top, and whether EUR/CHF would break through 1.0602 temporary top, to confirm underlying strength of Euro. In Europe, at the time of writing, FTSE is up 0.71%. DAX is up 1.59%. CAC is up 1.51%. Germany 10-yaer yield is down -0.044 at 0.223. Earlier in Asia, Nikkei rose 1.08%. Hong Kong HSI rose 2.06%. China Shanghai SSE rose 0.79%. Singapore Strait Times rose 0.54%. Japan 10-year JGB yield rose 0.0003 to 0.208. |
