Dollar strengthens notably in early US session with help from another set of solid job data. Initial claims is back trending down and hit another low since 1969. 10-year yield is also recovering and could head back to 2.5 handle. Meanwhile, Euro is following as a close second. Canadian Dollar is the weakest one, followed by New Zealand and then Australian Dollar. Sterling is mixed as Brexit enters into another boring, over-time. Technically, USD/CHF's rally is building up momentum for 1.024/28 resistance zone. USD/JPY's break of 111.28 minor resistance now puts focus back to 111.82 resistance. However, there is no clear side of Dollar strength elsewhere yet. The forex markets remain rather mixed overall. In Europe, currently, FTSE is down -0.03%. DAX is up 0.28%. CAC is up 0.69%. German 10-year yield is up 0.0101 at -0.013, still negative. Earlier in Asia, Nikkei rose 0.11%. Hong Kong HSI dropped -0.93%. China Shanghai SSE dropped -1.60%. Singapore Strait Times rose 0.10%. Japan 10-year JGB yield dropped -0.0037 to -0.06. |
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