 Euro weakens broadly today, in relatively quiet markets, as traders are probably adjusting their positions ahead of tomorrow's ECB rate decision. A new package of stimulus is widely expected. Yet, opinions on the exact composition of the package is divided. Meanwhile, steady market sentiments is keeping Yen and Swiss Franc soft. On the other hand, Dollar, Australian and Canadian are the stronger ones. US President Donald Trump continues his attack on Fed. But markets are really rather used to the erratic tweets, and shrug them off. Technically, EUR/USD's dip today now puts focus back to 1.0926 low. Break will resume medium term down trend. EUR/AUD is also on track to retest 1.5894 support. For now, as long as 117.73 minor support in EUR/JPY holds, further rebound is still in favor. But break will turn focus back to 115.86 low. While Euro turns weak, EUR/GBP is still holding on to 0.8891 key cluster support. We'd still favor strong support from there to bring rebound. In other markets, US opens nearly flat. FTSE is up 0.95%. DAX is up 0.74%. CAC is up 0.27%. German 10-year yield is down -0.0017 at -0.549, but stays well above -0.6 handle. Earlier in Asia, Nikkei rose 0.96%. Hong Kong HSI rose 1.78%. China Shanghai SSE dropped -0.41%. Singapore Strait Times rose 1.55%. Japan 10-year JGB yield rose 0.0184 to -0.206. |
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