Markets seem to be back in mild risk on mode in Europe, shrugging off the selloff in Asia. US futures also point to higher open, as the record run could resume this week. The currency markets are relatively mixed. Yen is stabilizing into US session after earlier selloff. Dollar is also weakening mildly for the moment. For now, Swiss Franc is the weakest followed by Yen. Sterling is the strongest followed by Aussie. Technically, Swiss Franc could be a focus this week, in particular against European majors. EUR/CHF recovered notably ahead of 1.0954 support. While it's still far away, break of 1.1073 resistance will indicate completion of consolidation pattern from 1.1149 and bring retest of this high. Similar, GBP/CHF also recovered ahead of 38.2% retracement of 1.1683 to 1.3070. Break of 1.2814 resistance will also indicate completion of the correction from 1.3070 and bring retest of this high. In Europe, at the time of writing, DAX is up 0.75%. CAC is up 0.62%. Germany 10-year yield is up 0.0176 at -0.183. UK is on holiday. Earlier in Asia, Hong Kong HSI dropped -1.28%. Singapore Strait Times dropped -1.04%. Japan and China were on holiday. |