Dollar is rebounding strongly in early US session following much better than expected job and wage growth. The greenback is apparently turning the tide against all major currencies, except Euro. The common currency is still the runaway winner for the week, as boosted by surprised hawkish turn in ECB. In other markets, DOW futures took a deep dive after the release on concern of aggressive Fed tightening. 10-year yield looks set to break through 1.9 handle. Technically, we'll pay attention to whether Gold would finally break through 1794.31 with conviction this time, after a false break earlier in the week. If happens, that would help solidify the case for a Dollar comeback. Gold should then dive through 1780.01 to resume the fall from 1853.70 to 1752.32 support next. In Europe, at the time of writing, FTSE is down -0.10%. DAX is down -1.66%. CAC is down -0.92%. Germany 10-year yield is up 0.0540 at 0.199, pressing 0.2 handle. Earlier in Asia, Nikkei rose 0.73%. Hong Kong HSI rose 3.24%. Singapore Strait Times dropped -0.24%. China was still on holiday. Japan 10-year JGB yield rose 0.212 to 0.201, regained 0.2 handle. |
