Dollar rides on renewed rally in US treasury yields and trades broadly higher today. The greenback's strength is quite overwhelming for now. On the other hand, Yen and Swiss Franc are trading as the weakest ones, followed by commodity currencies. The stock markets are having little reactions so far, with European indices mildly in black while US futures are just slightly now. We're not expecting drastic reactions in stocks unless 10-year yield could surge past 2% handle, which is still quite far away. But who knows? Technically, Gold is now in focus as it's getting close to 1676.65 support. Break there will resume whole corrective fall from 2075.18 towards 50% retracement of 1160.17 to 2075.18 at 1617.67. We'd tentatively look for bottoming signal there. But further rise in yield, Dollar, and Gold could reinforce the moves of each other. In Europe, currently, FTSE is up 0.10%. DAX is up 0.70%. CAC is up 0.51%. Germany 10-year yield is up 0.0522 at -0.263. Earlier in Asia, Nikkei rose 0.16%. Hong Kong HSI rose 0.84%. China Shanghai SSE rose 0.62%. Singapore Strait Times rose 0.48%. Japan 10-year JGB yield rose 0.0229 to 0.093. |