Overall risk sentiment is mixed today with mild recovery in European stocks, even though US futures still point to lower open. Major global benchmark treasury yields are turning softer. Dollar, Swiss Franc and Yen are staying as the strongest ones. Selling focus, however, has turned to Sterling in Euro. Commodity currencies turned mixed for now, with recovery seen in Gold and oil price too. Technically, Yen pairs, except USD/JPY, are generally trading lower today. Even CAD/JPY is accelerating after failing to recover back above 4 hour 55 MEA. Current fall from 102.93 is seen as corrective whole rise from 89.21. Deeper decline should be seen to 38.2% retracement of 89.21 to 102.93 at 97.68. Such development would be reflected in deeper decline in both AUD/JPY and NZD/JPY too. In Europe, at the time of writing, FTSE is up 0.79%. DAX is up 0.69%. CAC is up 0.88%. Germany 10-year yield is down -0.153 at 0.819. Earlier in Asia, Nikkei rose 0.41%. Hong Kong HSI rose 0.33%. China Shanghai SSE dropped -1.44%. Singapore Strait Times dropped -0.53%. Japan 10-year JGB yield dropped -0.0038 to 0.251. |
