Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow's non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity currencies are generally lower, as led by both Australian and New Zealand Dollars. Technically, in spite of current recovery, there is no confirmation of a turnaround in Dollar's bearish outlook. The key near term levels include 1.4090 support in GBP/USD, 0.7673 support in AUD/USD, 0.9046 resistance in USD/CHF and 1.2201 resistance in USD/CAD. Dollar's selloff could come back any time as long as these levels hold. In Europe, at the time of writing, FTSE is down -1.11%. DAX is down -0.42%. CAC is down -0.43%. Germany 10-year yield is up 0.0110 at -0.185. Earlier in Asia, Nikkei rose 0.39%. Hong Kong HSI dropped -1.13%. China Shanghai SSE dropped -0.36%. Singapore Strait Times rose 0.13%. Japan 10-year JGB yield rose 0.0076 to 0.087. |
