 Dollar is trading as the weakest one for today after it's rally attempt failed. Additional pressure i seen in early US session after retail sales miss. Tension between the US and Saudi Arabia and the risks of sanctions are seen as a factor weighing down the greenback. Meanwhile, Sterling gapped lower at weekly open after weekend's Brexit negotiations failure. But the Pound gradually regained footing even though there is basically no positive Brexit news. For now, there are still hope that the UK and the EU might agree to something after this week's EU summit. Staying in the currency markets, Canadian Dollar follow the US as second weakest. Swiss Franc, New Zealand Dollar and Japanese Yen are the stronger ones. In other markets, European stocks recover mildly today after initial selloff. At the time of writing, DAX is up 0.54%, CAC up 0.04%, FTSE up 0.21%. German 10 year bund yield is trading down -0.0022 at 0.497. Italian yield, though, is also down -0.0212 at 3.554. Earlier in Asia, Nikkei closed down -1.87%, Singapore Strait Times down -0.76%, Hong Kong HSI down -1.38% and China Shanghai SSE down -1.49%. Japan 10 year JGB yields dropped -0.0051 to 0.145. Gold extends recent rebound and breaks 1230 handle. Technically, firstly, EUR/USD's rebound from 1.1534 minor support suggests that rise from 1.1431 is not finished. Further rally is now in favor to above 1.1610. USD/JPY took out 111.82 to extend fall from 114.54. USD/CHF is also extending the corrective fall from 0.9954. More downside is mildly in favor for the Dollar in the latter part of the day. |
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