Markets continue to reverse some of last week's move, as seen in the rebound in European and Asian equities. Dollar, Yen and Swiss Franc all turned weaker while commodity currencies strengthened. PMIs from Eurozone and UK are all solid, despite mild pull back. Yet, both are outshone by commodity currencies. Sterling is currently having a slight upper hand against Euro. Technically, however, there is no clear sign of reversal for Dollar, Yen and Franc yet. Though, Gold's break of 1795.42 resistance now suggests resumption of rebound from 1682.60. Reaction to 1800 handle will be watched, and sustained trading above would pave the way to retest 1832.47 resistance that. We'd see if EUR/USD would follow and break through 1.1084 resistance too. In Europe, at the time of writing, FTSE is up 0.36%. DAX is up 0.23%. CAC is up 0.89%. Germany 10-year yield is up 0.021 at -0.473. Earlier in Asia, Nikkei rose 1.78%. Hong Kong HSI rose 1.05%. China Shanghai SSE rose 1.45%. Singapore Strait Times dropped -0.49%. Japan 10-year JGB yield rose 0.0070 to 0.019. |
