Yen extended rebound in European session following the sharp fall in benchmark Germany yield. But struggling to extend gain as markets enter into US session. Overall markets are mixed as investors are probably turning cautious ahead tomorrow's FOMC policy decision. As for today, Aussie remains the worst performing one after post RBA selloff, followed by Kiwi, and Swiss Franc. On the other hand, Yen is strongest, followed by Dollar and then Euro. Technically, we'd pay attention to whether Aussie's selloff would extend further. AUD/USD is currently pressing 0.7452 minor support while AUD/JPY is pressing 84.59. Break of these levels will extend the near term correction lower. However, rebound from current levels would keep the consolidations brief, with breaks of 0.7555 and 86.24 highs sooner rather than later. In Europe, at the time of writing, FTSE is down -0.52%. DAX is up 0.70%. CAC is up 0.27%. Germany 10-year yield is down -0.047 at -0.146. Earlier in Asia, Nikkei dropped -0.43%. Hong Kong HSI dropped -0.22%. China Shanghai SSE dropped -1.10%. Singapore Strait Times rose 0.41%. Japan 10-year JGB yield dropped -0.0125 to 0.084. |
