Commodity currencies are trading as the weaker ones for today so far, as risk markets turn softer. Major European indexes are in slight red,. while US futures point to lower open. Yen is currently the stronger ones, followed by Swiss Franc and then Dollar. But overall, major pairs and crosses are still generally stuck in range. Technically, we'd pay some attention to the developments in Gold. It's now in proximity to medium term falling channel. Sustained break there should confirm completion of the correction from 2075.18. In this case, rise from 1676.65 would likely accelerate upward. And that could be a prelude to downside breakout in Dollar. Though, rejection by the channel resistance would promote near term bearish reversal, and help lift Dollar for a rebound. In Europe, at the time of writing, FTSE is down -0.56%. DAX is down -0.24%. CAC is down -0.39%. Germany 10-year yield is up 0.022 at -0.104. Earlier in Asia, Nikkei dropped -0.92%. Hong Kong HSI rose 0.59%. China Shanghai SSE rose 0.78%. Singapore Strait Times rose 0.81%. Japan 10-year JGB yield dropped -0.0049 to 0.080. |
