 Asian markets turned mixed after US stocks stabilized overnight. Treasury yields remain pressured though, as 10-year JGB yield hit the lowest level since 2016. In the currency markets, Dollar strengthens mildly today after a Fed dove dismissed an emergency rate cut. Though, Australian Dollar is the strongest one. On the other hand, as markets stabilized, Swiss Franc, Euro and Yen are the softest for today. For the week as a whole, Euro is the weakest one followed by Canadian. Sterling is strongest on corrective recovery, followed by Aussie. Technically, more downside looks likely for Euro. EUR/USD is heading back to 1.1026 support. EUR/JPY is also eyeing 117.51. Break of there levels could prompt selling in EUR/GBP and EUR/AUD too. Downside momentum in EUR/CHF is so far weak, but we won't be surprised to see it picks up again before weekly close. One important point to note is that recoveries in GBP/USD and GBP/JPY this week are clearly corrective looking. That is, break of 1.2014 and 126.54 temporary lows should be seen sooner or later. In Asia, Nikkei is currently up 0.07%. Hong Kong HSI is up 0.80%. China Shanghai SSE is up 0.68%. Singapore Strait Times is down -0.75%. Japan 10-year JGB Yield hit as low as -0.251 earlier today and is now down -0.0006 at -0.238. Overnight, DOW rose 0.39%. S&P 500 rose 0.25%. NASDAQ dropped -0.09%. 10-year yield dropped -0.052 to 1.529. 30-year yield dropped -0.045 to 1.980. |
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