Forex markets today are leaning towards mild risk-off sentiment, with traders cautiously awaiting comments from leading central bankers at the ECB forum. This cautious sentiment, interestingly, does not seem to be having a substantial effect on the stock or bond markets yet. British Pound is experiencing fresh selling, despite expectations of hawkish messages from the head of BoE. Meanwhile, Australian and New Zealand dollars are faring even worse, as they continue to suffer from the aftermath of disappointing Australian CPI data. On the other hand, Dollar is showing signs of strength at present. Yen is trying to recovery, but still lacks convincing momentum. Euro and Swiss Franc lag slightly behind the greenback and Yen. Let's see how much the picture would change after the central bankers' speeches. Technically, Gold's fall from 2062.95 is also extending lower today, on the back of Dollar's recovery. Next focus will be on whether there is enough support from 38.2% retracement of 1614.60 to 2062.95 at 1891.68 to bring rebound. Break of 1939.24 minor resistance will be the first sign of bottoming. However, sustained break of 1891.68 would open up deeper fall to 1804.48, and possibly to 61.8% retracement at 1785.86. In Europe, at the time of writing, FTSE is up 0.71%. DAX is up 0.70%. CAC is up 0.77%. Germany 10-year yield is down -0.035 at 2.325. Earlier in Asia, Nikkei rose 2.02%. Hong Kong HSI rose 0.12%. China Shanghai SSE closed flat. Singapore Strait Times rose 0.06%. Japan 10-year JGB yield rose 0.138 to 0.388. | 