 Dollar struggles to ride on stronger than expected non-farm payroll growth, and it's indeed retreating notably in early US session. Stocks are also not too enthusiastic so far, with DOW futures up only around 0.2% at the time of writing. Still, the greenback is more likely to finish as the strongest one for the week, followed by Yen. Canadian Dollar is trading to catch up. But Australian and New Zealand Dollar remain the worst. Technically, as USD/CAD dips notably, we'd pay attention to 4 hour 55 EMA (now at 1.2353). Break there will bring deeper fall towards 1.2251 support. That, if happens, could be an earlier warning that Dollar is turning weaker elsewhere again. In Europe, at the time of writing, FTSE is up 0.20%. DAX is up 0.55%. CAC is up 0.17%. Germany 10-year yield is down -0.0381 at -0.235. Earlier in Asia, Nikkei rose 0.27%. Hong Kong HSI dropped -1.80%. China Shanghai SSE dropped -1.95%. Singapore Strait Times rose 0.15%. Japan 10-year JGB yield rose 0.0059 to 0.046. |
