 Dollar is trading as the worst performing for the day, and receive no support from solid ADP private job data. The greenback is somewhat weighed down by extended retreat in benchmark US yields. On the other hand, Euro is supported by rising Germany benchmark yields, after consumer inflation hit the highest level in more than 40 years. Yet, Euro bulls are still not too committed to push it higher, as the hope of Russia ceasefire remains in doubt. Yen is the strongest one for today, trying to extend recovery. Technically, we'd reiterate that some near term resistance levels need to be take out with conviction before Euro could prove it's underlying strength. the levels include 1.1120 support turned resistance in EUR/USD, 0.8476 structural resistance in EUR/GBP, and 1.0400 resistance in EUR/CHF. As for Dollar, it will probably need to wait until non-farm payroll report to have a chance for a come back. In Europe, at the time of writing, FTSE is up 0.02%. DAX is down -1.64%. CAC is down -1.10%. Germany 10-year yield is up 0.051 at 0.683. Earlier in Asia, Nikkei dropped -0.80%. Hong Kong HSI rose 1.39%. China Shanghai SSE rose 1.96%. Singapore Strait Times rose 0.25%. Japan 10-year JGB yield dropped -0.0328 to 0.220. |
