 Dollar rises in early US session with help from solid job and strong inflation data. But Yen is even stronger as it continues to pare back recent steep losses. On the other hand, Euro turned weaker again as the rally attempt faltered. Underlying momentum in the common currency is very disappointing, mainly because the uncertainty over Ukraine remains uncleared. Commodity currencies also turned weaker on mild risk averse sentiments. Technically, near term outlook in Euro pairs will be reassessed with today's retreats. For now, further rise will be in favor as long as 1.0943 support in EUR/USD, and 0.8924 support in EUR/GBP hold. However, break of 1.0184 support in EUR/CHF will revive near term bearishness for retesting 0.9977 low. Such development, if happens, could drag down EUR/USD and EUR/GBP too. In Europe, at the time of writing, FTSE is down -0.25%. DAX is down -0.30%. CAC is down -0.44%. Germany 10-year yield is down -0.052 at 0.594. Earlier in Asia, Nikkei dropped -0.73%. Hong Kong HSI dropped -1.06%. China Shanghai SSE dropped -0.44%. Singapore Strait Times dropped -0.99%. Japan 10-year JGB yield dropped -0.0040 to 0.216. |
