Dollar retreat broadly today as 10-year yield pares gain after failing to sustain above 1.6 handle again. NASDAQ is also set for a rebound while DOW might try to extend the record run. At the time of writing, Yen, Euro and Sterling are following as the next weakest. Australian Dollar is currently the strongest one, followed by Swiss Franc and then New Zealand Dollar. Technically, while Dollar retreats, there is no clear sign of topping yet. Some levels to watch will include 1.1951 minor resistance in EUR/USD, 1.4016 minor resistance in GBP/USD, 0.9256 minor support in USD/CHF and 108.08 minor support in USD/JPY. Also, break of 1740.32 minor resistance in Gold will also indicate short term bottoming, and be a sign of more Dollar pull back. In Europe, currently, FTSE is up 0.27%. DAX is up 0.31%. CAC is up 0.20%. Germany 10-year yield is down -0.0508 at -0.324. Earlier in Asia, Nikkei rose 0.99%. Hong Kong HSI rose 0.81%. China Shanghai SSE dropped -1.82%. Singapore Strait Times rose 1.22%. Japan 10-year JGB yield rose 0.0079 to 0.130. |
