 Overall markets are in risk-off mode today, started with steep selloff in Hong Kong and China stocks. Nevertheless, losses in Europe are limited, while DOW future is just slightly lower. In the currency markets, commodity currencies are the worst performing ones, as led by New Zealand Dollar. Yen is the strongest one, followed by Swiss Franc. Dollar, Euro and Sterling are mixed. Technically, USD/JPY's break of 110.00 minor support argues that recovery from 109.05 has completed at 110.58. Focus will firstly turn to 151.37 minor support in GBP/JPY, break will also suggest completion of recovery from 148.43. Also, break of 76.21 minor support in NZD/JPY will indicate completion of the recovery from 75.25. In Europe, at the time of writing, FTSE is down -0.53%. DAX is down -0.59%. CAC is down -0.52%. Germany 10-year yield is down -0.0169 at -0.431. Earlier in Asia, Nikkei rose 0.49%. Hong Kong HSI dropped -4.22%. China Shanghai SSE dropped -2.49%. Singapore Strait Times dropped -0.01%. Japan 10-year JGB yield rose 0.0027 to 0.020. |
