Dollar firms up again entering into US session, but it's so far held below yesterday's high against all but Swiss Franc. There is little reaction to weaker than expected growth in durable goods orders. New Zealand Dollar is surprisingly the strongest on for today, while Yen is the third. Euro is currently the weakest one for today, followed by Aussie and then Swiss Franc. Overall market sentiments turned sour in European session but there is no follow through selling at this point. Technically, Kiwi's strength is largely thanks to cross buying against Aussie. AUD/NZD is extending the fall from 1.1043, with downside re-acceleration. Further fall is expected as long as 1.0850 resistance holds, towards 38.2% retracement of 0.9994 to 1.1043 at 1.0865. Such developments would raise the odds of EUR/AUD breaking 1.6586 resistance firmly, and AUD/CAD breaks 0.9409 support decisively. In Europe, FTSE is currently down -0.37%. DAX is down -1.58%. CAC is down -1.56%. Germany 10-year yield is down -0.022 at -0.519. Earlier in Asia, Nikkei rose 0.51%. Hong Kong HSI dropped -0.32%. China Shanghai SSE dropped -0.12%. Singapore Strait Times rose 0.88%. Japan 10-year JGB yield rose 0.0007 to 0.011. |