Dollar strengthens broadly today and breaks near term support against Euro. There is no clear sign of strength in other pairs yet. More is needed to the greenback to prove itself. Meanwhile, markets remain relatively mixed elsewhere. Canadian Dollar is the strongest yet New Zealand Dollar and Australian Dollar are two of the weakest ones. At the same time, Yen is the second worst performing for today. Technically, EUR/USD's break of 1.1193 suggests resumption of fall from 1.1412. 1.1181 support is next focus, and break will pave the way to retest 1.1107 low. 1.3143 resistance in USD/CAD will be a focus today. Break there will suggest short term bottoming after defending 1.3052/68 cluster support zone. Strong rebound would likely follow for the near term. In Asia, currently, Nikkei is up 1.20%. Hong Kong HSI is up 0.16%. China Shanghai SSE is up 0.08%. Singapore Strait Times is up 0.29%. Japan 10-year JGB yield is down -0.004 at -0.138. Overnight, DOW rose 0.07%. S&P 500 rose 0.28%. NASDAQ rose 0.71%. 10-year yield dropped -0.005 to 2.043. |
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