Forex traders remain rather uncommitted today. Euro was weighed down by renewed weakness in German 10-year bund yield, which hit as low as 0.594. The common currency hit new 2019 low against Dollar but there is no follow through selling. Australian Dollar also recovers notably after initial weakness. On the other hand, Dollar is turning softer again after another rally attempt. The economic data released today trigger no sustainable price actions. Technically, 1.0926 in EUR/USD remains a major focus. Decisive break will confirm resumption of medium term down trend from 1.2555. 117.55 and 132.17 minor support levels in EUR/JPY and GBP/JPY will also be watched. Break will pave the way back to 115.86 and 126.54 lows respectively. In Europe, FTSE is up 1.24%. DAX is up 0.47%. CAC is up 0.73%. German 10-year yield is down -0.008 at -0.581. Earlier in Asia, Nikkei rose 0.13%. Hong Kong HSI rose 0.37%. China Shanghai SSE dropped -0.89%. Singapore Strait Times closed flat. Japan 10-year JGB yield rose 0.0115 to -0.246. |
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