Dollar's rally continues today but buying is mainly centered against Euro, Swiss Franc and Kiwi. Euro is getting no support from better than expected investor confidence data. Thanks to some resilience in crosses, Sterling is following as the second strongest for now. Commodity currencies are trading mildly softer but they're generally holding above Friday's low. Risk sentiment in European market is mixed and traders would look into the development in the US, in particular in tech stocks, as well as treasury yields. Technically, one focus is on whether NASDAQ would break through last week's low at 12397, and how DOW and S&P 500 would react if that happens. That could drive the volatility in commodity currencies. 10-year yield is current pressing 1.6 handle but question remains on whether it could extend the rally beyond this level. Gold is also resuming recent down trend by taking out Friday's low. Attention will be on sign of downside acceleration below the medium term channel support. In Europe, currently, FTSE is up 0.04%. DAX is up 1.30%. CAC is up 0.80%. Germany 10-year yield is up 0.0227 at -0.278. Earlier in Asia, Nikkei dropped -0.42%. Hong Kong HSI dropped -1.92%. China Shanghai SSE dropped -2.30%. Singapore Strait Times rose 1.90%. Japan 10-year JGB yield rose 0.025 to 0.122. |