The financial markets are trading in mixed mode today. European stock indices are mixed while US futures point to slightly lower open. Sentiments are slightly on the risk-off side on coronavirus concerns, but selloff is so far relatively shallow. There is also no clear momentum for Yen and Dollar to extend the rebound yet. Canadian Dollar has little reaction to the surge in March inflation data. It's quietly waiting for BoC tapering announcement and new economic projections. Technically, one focus to watch is 129.56 minor support in EUR/JPY. Break there will open up the case for deeper pull back to 128.28 support. The accompanying reactions in EUR/USD and USD/JPY would even be more interesting. Break of 1.1941 minor support in EUR/USD will bring deeper fall to 1.1703 retest 1.1703 low. Firm break of 107.75 fibonacci support in USD/JPY would signal near term bearish reversal. In Europe, at the time of writing, FTSE is up 0.11%. DAX is down -0.27%. CAC is up 0.30%. Germany 10-year yield is down -0.0099 at -0.268. Earlier in Asia, Nikkei dropped -2.03%. Hong Kong HSI dropped -1.76%. China Shanghai SSE closed flat. Singapore Strait Times dropped -1.16%. Japan 10-year JGB yield dropped -0.0096 to 0.075. |