Manufacturing and job data released the US are pretty solid. But dollar shrugs off and stays soft. Though, Euro is even weaker on rumor that ECB is considering to revamp their inflation target, which could give policymakers rooms to pursue monetary stimulus for longer. Canadian Dollar is also among the worst performing ones as oil price extends this week's pull back. On the other hand, Sterling is shot higher on way better than expected retail sales data. Australian Dollar is also among the strongest. Technically, EUR/GBP retreats sharply today and focus is back on 0.8594 support. Break will be an early indication of near term bearish reversal. GBP/USD rebounds strongly after drawing support from 1.2391 low. Break of 1.2579 will indicate short term bottoming too. USD/JPY recovers after dipping to 107.61 earlier today. But further decline is still in favor for the near term. In Europe, currently, FTSE is down -0.45%. DAX is down -0.64%. CAC is down -0.07%. German 10-year yield is down -0.13 at -0.302. Earlier in Asia, Nikkei dropped -1.97%. Hong Kong HSI dropped -0.46%. China Shanghai SSE dropped -1.04%. Singapore Strait Times dropped -0.11%. Japan 10-year JGB yield dropped -0.011 to -0.136. |
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