Dollar's rally continues in early US session as supported by risk aversion and rising yields. On the other hand, Euro is staying to digest this week's gain, and broadly. As for today, Canadian Dollar is currently the second strongest, following the greenback. Aussie and Kiwi follow. Sterling and Yen are the next weakest following Euro. Technically, as Euro is starting to lose momentum in crosses while Dollar is heading higher, it's probably time for EUR/USD to break to the downside. Outlook is staying bearish with 1.0094 resistance intact in EUR/USD. The key level is 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860. Decisive break there will confirm that bears are back in control and would setup downside acceleration to 100% projection at 0.9546. In Europe, at the time of writing, FTSE is down -1.38%. DAX is down -1.10%. CAC is down -1.26%. Germany 10-yaer yield is up 0.037 at 1.579. Earlier in Asia, Nikkei dropped -1.53%. Hong Kong HSI dropped -1.79%. China Shanghai SSE dropped -0.54%. Singapore Strait Times rose 0.07%. Japan 10-year JGB yield rose 0.122 to 0.240. |