Dollar is recovering in early US session, follow another print of strong consumer inflation. 10-year yield is also back above 2.7% handle. Still, the greenback is the worst performer for the week together with Euro. Yen is retreating mildly but stays the strongest one for the week, followed by Sterling. Commodity currencies are mixed, slightly on the soft side. Technically, while Euro is still week, it appears to be stabilizing in some crosses. Break of 0.8424 minor resistance in EUR/GBP, 1.4666 minor resistance in EUR/AUD, and 137.31 minor resistance in EUR/JPY, will argue that the selling climax is already over for the near term. In Europe, at the time of writing, FTSE is up 0.59%. DAX is up 1.12%. CAC is up 1.65%. Germany 10-year yield is up 0.059 at 0.892. Earlier in Asia, Nikkei dropped -0.05%. Hong Kong HSI dropped -2.26%. China Shanghai SSE dropped -0.89%. Singapore Strait Times dropped -0.28%. Japan 10-year JGB yield dropped -0.0256 to 0.183. |
