 Markets are generally in risk averse mode today, partly due to receding US-China trade optimism after hardline comments from US President Donald Trump at UN yesterday. Also, US House Speaker decided to lunch a formal impeachment inquiry on Trump. Nevertheless, while European markets are in red, DOW future is just flat. In the currency markets, Dollar is the strongest one for today, followed by Swiss Franc and than Canadian. Sterling is the weakest, followed by Australian and then New Zealand Dollar. Technically, break of 0.6760 temporary low in AUD/USD will resume the fall from 0.6894 to retest 0.6677 low. 1.3310 in USD/CAD will be watched and break will resume the rebound from 1.3133 to 1.3382 resistance. EUR/GBP appears to be gathering momentum for a stronger rebound. Break of 0.8894 minor resistance will confirm short term bottoming in EUR/GBP. In that case, we might seen the declines in GBP/USD and GBP/JPY accelerate too. In Europe, currently, FTSE is down -0.51%. DAX is down -1.00%. CAC is down -1.37%. German 10-year yield is down -0.011 at -0.611. Earlier in Asia, Nikkei dropped -0.36%. Hong Kong HSI dropped -1.28%. China Shanghai SSE dropped -1.00%. Singapore Strait Times dropped -0.94%. Japan 10-year JGB yield dropped -0.0169 to -0.255. |
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