 Swiss Franc is currently the strongest performer for the day, showing a notable gain the Euro. Japanese Yen and Australian Dollar follow closely, indicating that the market moves are not predominantly driven by risk aversion. In contrast, New Zealand Dollar is the weakest, as lower-than-expected inflation data increases hopes that RBNZ is nearing a pause in its rate hikes. The Canadian Dollar is the second-worst currency for the day, as it trails falling oil prices. Dollar is on the softer side, as it follows declining Treasury yields. Euro is mixed, seemingly unaffected by comments from ECB officials and the release of March meeting minutes. From a technical perspective, EUR/CHF appears ready to resume its decline from 0.9995, passing the temporary low of 0.9797. This drop is considered part of the corrective pattern from the January high of 1.0095. Deeper fall to 0.9704 support and below is expected. If there is a firm break below 0.9797, downside acceleration could exert pressure on Euro in other pairs, limiting its rally momentum. In Europe, at the time of writing, FTSE is down -0.16%. DAX is down -0.86%. CAC is down -0.37%. Germany 10-year yield is down -0.0412 at 2.475. Earlier in Asia, Nikkei rose 0.18%. Hong Kong HSI rose 0.14%. China Shanghai SSE dropped -0.09%. Singapore Strait Times dropped -0.32%. Japan 10-year JGB yield is down -0.0078 at 0.470. |
