 Dollar jumps broadly in early US session after very strong retail sales and jobless claims. Yen is the only one stronger than the greenback, thanks to pull back in global treasury yields. Euro, as well as benchmark German yield tumble as poor PMIs dent hope for a recovery in Q2. New Zealand Dollar is the only weaker one for today. Despite strong Canadian retail sales and Australian Employment, both are among the weakest ones. For the week, Yen is now the strongest one, followed by Dollar and then Aussie. Kiwi is the weakest one, followed by Swiss Franc and then Euro. Technically, USD/CHF break of 1.0128 resistance now suggests resumption of medium term up trend from 0.9186 towards 1.0342 key resistance. EUR/USD's break of 1.1250 minor support now put focus back to 1.1176 low. Break will resume medium term down trend from 1.2555. 111.69/112.13 range in USD/JPY will be watched as the pair will have to decide whether to break through or reverse. USD/CAD is range bound but break of 1.3467 is mildly in favor. AUD/USD will look at 0.7139 minor support to indicate completion of near term recovery. In Europe, currently, FTSE is down -0.05%. DAX is up 0.32%. CAC Is up 0.24%. German 10-year yield is down -0.046 at 0.038, still way above 0%. Earlier in Asia, Nikkei dropped -0.54%. China Shanghai SSE dropped -0.40%. Hong Kong HSI dropped -0.54%. Singapore Strait Times dropped -0.03%. Japan 10-year JGB yield dropped -0.0179 to -0.026. |
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