Yen surges broadly again today as major global treasury yield resumed recent free fall. US 10-year yield down -0.058 to 1.976 overnight and it's now trading further lower to 1.947. German 10-year bund yield opens lower and is down -0.025 at -0.390, continuing to make new record low. Japan 10-year yield JGB yield is relatively steady, just down -0.005 at -0.147. For now, Swiss Franc is the second strongest, followed by New Zealand Dollar. On the downside, Sterling is suffering most as the weakest. Selling took off overnight on dovish comments from BoE Governor Mark Carney. Canadian Dollar is the second weakest following steep pull back in oil price. WTI crude oil was rejected by 60 handle again earlier in the week and it's back at 56.5. Euro is the third weakest as markets are not too encouraged by nomination of IMF Managing director Christine Lagarde as next ECB President. Dollar is mixed, awaiting ADP employment and ISM services. Technically, GBP/JPY's break of 135.38 confirms resumption of fall from 148.87. Next target is 131.51 low. EUR/JPY breaks 121.65 minor support and focus is now on 120.78. Break will resume fall from 127.50 towards 118.62 low. USD/JPY's is back pressing 107.56 and break will also put focus to 106.78 support first. In Asia, Nikkei closed down -0.53%. Hong Kong HSI is down -0.33%. China Shanghai SSE is down -0.97%. Singapore Strait Times is down -0.35%. Japan 10-year JGB yield is down -0.005 at -0.147. Overnight, DOW rose 0.26%. S&P 500 rose 0.29%. NASDAQ rose 0.22%. 10-year yield dropped -0.058 to 1.976. |
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