 Just ahead of the weekend, Swiss Franc shows broad based power today as it surges across the board. Yen is trading as the second strongest one, but with much weaker momentum. For now, we're unsure of the exact reason for the rally. European stocks are enjoying a solid rebound. There is no notable selloff in emerging market currencies neither. WTI crude oil is steady in range around 45. Gold does extend recent rally but only with relatively weak momentum. We'd tend to suspect it's geopolitics related and could be related to US withdrawal from Syria. But we can't find the exact linkage yet. Meanwhile Dollar and Canadian remain the two weakest for today and the week. Euro tried to strengthen against both Dollar and Sterling today. But it lacks follow through buying through 1.1485 and 0.9086 resistance respectively. Instead, Euro is starting to be weighed down by selloff in EUR/CHF as well ass much weaker than expected Germany inflation reading. In other markets, at the time of writing, US futures point to higher open. FTSE is up 2.05%, DAX is up 1.171%, CAC is up 1.85%. German 10 year yield is up 0.0023 at 0.235. Italian 10 year yield is down -0.0195 at 2.728. German-Italian spread is at 249, below 250 handle. Earlier in Asia, Nikkei dropped -0.31% to 20014.77. Hong Kong HSI rose 0.10% and China Shanghai SSE rose 0.44%. Singapore Strait Times rose 0.29%. Japan 10 year JGB year dropped -0.0232 to 0.001, now very very close to 0%. |
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