 Dollar is staying soft in consolidation today, as traders are clearly still cautiously waiting for rate clues from Fed Chair Jerome Powell's Jackson Hole speech tomorrow. Yen is also mixed despite surging benchmark treasury yields. Movements are mainly found in Aussie and Kiwi, on rallies, which are lifted by China's new stimulus plan. On the other hand, European majors the weakest ones for now. Technically, while Dollar's retreat could extend further, some levels need to be broken to indicate persistence in selling. Otherwise, Dollar rally could come back any time. The levels include 1.0121 resistance in EUR/USD, 1.2002 resistance in GBP/USD, 0.9500 support in USD/CHF, and 1.2826 support in USD/CAD. In Europe, at the time of writing, FTSE is up 0.13%. DAX is up 0.05%. CAC is down -0.21%. Germany 10-year yield is down -0.018 at 1.353. Earlier in Asia, Nikkei Rose 0.58%. Hong Kong HSI rose 3.63%. China Shanghai SSE rose 0.97%. Singapore Strait Times rose 0.44%. Japan 10-year JGB yield rose 0.0059 to 0.230. |
