Euro trades broadly lower today as investor confidence deteriorated further despite slightly easing US-China trade tensions. German 10-year yield also weakens again following weaker investor sentiments, as German lender Deutsche Bank AG started its most aggressive restructuring and layoff. Sterling and Yen are also among the weakest ones. On the other hand, New Zealand Dollar is leading commodity currencies higher. Technically, though, trading is rather subdued as most pairs and crosses are bounded in tight range. For now, further rise is mildly in Dollar in general, except versus Canadian. USD/CAD's recovery failed 1.3145 minor resistance and is eyeing 1.3037 low again. With resilience in commodity currencies, EUR/AUD is looking at 1.6025 temporary low for resuming recent fall from 1.6448. EUR/CAD's decline is on track for medium term projection level at 100% projection of 1.6151 to 1.4759 from 1.5645 at 1.4253. In Europe, currently, FTSE is down -0.06%. DAX is down -0.34%. CAC is down -0.24%. German 10-year yield is down -0.009 at -0.371. Earlier in Asia, Nikkei dropped -0.98%. Hong Kong HSI dropped -1.54%. China Shanghai SSE dropped -2.58%. Singapore Strait Times dropped -0.97%. Japan 10-year JGB yield rose 0.126 to -0.15. |
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