Risk markets attempt to recover today but lacks clear momentum. Nonetheless, that's enough to send Swiss Franc generally lower. At the time of writing, Canadian Dollar is the second weakest. Dollar follows as third weakest despite better than expected retail sales. Sterling on the other hand recovers broadly after being pressured earlier today. The Pound is paring some losses ahead of the Brexit votes this week. Just like the EU, Sterling is awaiting some clarify on what the UK would like to do regarding Brexit. Technically, GBP/USD recovers after hitting near term trend line support and focus is back on 1.3097 minor resistance. Break will indicate completion of pull back from 1.3350. EUR/CHF rebounds strongly after testing 1.1310 near term support and retains near term bullishness. Meanwhile, Dollar is still in consolidation against Euro, Swiss Franc, Aussie and Loonie. The greenback's retreat mildly extend lower. In Europe, FTSE is currently up 0.24%. DAX is up 0.21%. CAC is up 0.16%. German 10-year yield is down -0.006 at 0.065. Earlier in Asia, Nikkei rose 0.47%. Hong Kong HSI rose 0.97%. China Shanghai SSE rose 1.92% to 3026.99, back above 3000. Singapore Strait Times dropped -0.14%. Japan 10-year JGB yield dropped -0.0033 to -0.035. |
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