Dollar selling is back today while Yen's strength continues. Euro is also soft as the second worst after the greenback. On other hand hand, Sterling is strengthening with help from buying against Euro. Commodity currencies are mixed for now, with Canadian Dollar turning softer while Kiwi leads Aussie higher. Stock market sentiment is mixed, and will probably need some guidance from this week's important data releases, starting from ISM manufacturing today. Technically, one interesting development to note is the interplay between Dollar and Euro. EUR/USD is still range bound while both are being pressured elsewhere. GBP/USD and AUD/USD are already resuming near term rebound, after very brief retreat. At the same time, EUR/GBP and EUR/AUD look on the verge of decline resumption. Let's see if the developments in GBP/USD, AUD/USD, EUR/GBP and EUR/AUD would help squeeze EUR/USD out of range, or keep it inside. In Europe, at the time of writing, FTSE is up 0.20%. DAX is up 0.08%. CAC is up 0.05%. Germany 10-year yield is down -0.009 at 0.805. Earlier in Asia, Nikkei rose 0.69%. Hong Kong HSI rose 0.50%. China Shanghai SSE rose 0.21%. Singapore Strait Times rose 0.85%. Japan 10-year JGB yield rose 0.0026 to 0.186. |
