Overall market sentiment is positive in the market today, even though trading is subdued with some European countries on holiday. Sterling is trading higher with commodity currencies. On the other hand, Swiss Franc is is the weakest one, followed by Yen and Dollar. Euro is mixed for now. In other markets, Gold is struggling in tight range while WTI crude oil is still gyrating around 120 handle. Technically, however, the upside momentum in Sterling is not too convincing, however, except versus Yen. At least, GBP/USD will have to break through 1.2666 minor resistance to resume the the rebound from 1.2154 to be a sign of sustainable buying. Or, GBP/CHF will have to break through 1.2136 minor resistance to confirm short term bottoming at 1.1969. In Europe, at the time of writing, FTSE is up 1.30%. DAX is up 1.33%. CAC is up 1.32%. Germany 10-year yield is down -0.0003 at 1.279. Earlier in Asia, Nikkei rose 0.56%. Hong Kong HSI rose 2.71%. China Shanghai SSE rose 1.28%. Japan 10-year JGB yield rose 0.0092 to 0.246. |
