 Dollar regains some ground in early US session after stronger than expected Q4 GDP report. But at the time of writing, it's still trailing behind Euro and Swiss Franc. The common currency is boosted up by strong rally in German 10-year yield, which is up 0.028 at 0.178. Swiss Franc, on the other hand, strengthens after Trump-Kim summit in Vietnam collapsed without an agreement, not even a joint statement. Meanwhile, commodity currencies, including Canadian, Australian and New Zealand Dollar are the weakest. The immediate focus will now be on whether US treasury yield will follow German yield and extends yesterday's strong rally. In particular, US 10 year yield might set to take on 2.7 handle again, and a firm break there could push Dollar further higher, and even reverse against Euro. Technically, 111.23 resistance in USD/JPY is now an immediate focus. Firm break there will indicate medium term strength for 114.54 key resistance. EUR/JPY has already taken out 126.30 rather decisively. It's now likely heading to 129.25 resistance next. In Europe, at the time of writing, FTSE is down -0.46%. DAX is down -0.08%. CAC is up 0.03%. German 10-year yield is up 0.028 at 0.178. Earlier in Asia:, Nikkei dropped -0.79%. Hong Kong HSI dropped -0.43%. China Shanghai SSE dropped -0.44%. Singapore Strait Times dropped -1.15%. Japan 10-year JGB yield dropped -0.0021 to -0.027. |
No comments:
Post a Comment