 Dollar weakens mildly after the rather uninspiring speech of Fed Chair Jerome Powell. The highly anticipated is slightly on the dovish side as Powell mentioned a number of new "events after July's rate cut. Though, sell off in the greenback is rather limited. For the week, Sterling remains the strongest one, followed by Dollar and then Yen. New Zealand Dollar is the weakest, followed by Swiss Franc and Australian. Technically, as long as 1.1113 minor resistance in EUR/USD holds, further fall in in favor to retest 1.1026 low. Also, as long as 0.9773 minor support holds, USD/CHF's from 0.9659 should continue. With 107.09 minor resistance intact, USD/JPY is more likely to break 105.04 support than not. But we'd probably not see a breakout until next week. In US, currently, DOW is down -0.16%. US 10-year yield is down -0.0374 at 1.579. In Europe, FTSE is up 0.42%. DAX is up 0.07%. CAC is up 0.05%. German 10-year yield is down -0.0181 at -0.659. Earlier in Asia, Nikkei rose 0.40%. Hong Kong HSI rose 0.50%. China Shanghai SSE rose 0.49%. Singapore Strait Times dropped -0.56%. Japan 10-year JGB yield rose 0.0051 to -0.235. |
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