The forex markets turns mixed in relatively quiet trading today. Earlier selloff in Asia stocks didn't carry forward to other markets. Yen turned slightly softer, following Australian Dollar as second weakest. Sterling's selloff halted and recovers broadly as consolidations continue. Stabilization in the Pound also takes other European';s mildly higher. But Dollar is so far outperforming Euro slightly. Technically, the Pound remains bullish for the near term in general. 1.2582 support in GBP/USD, 135.74 support in GBP/JPY and 0.8811 resistance in EUR/GBP remain intact. Further rise is expected in Sterling. A focus today would be on USD/JPY, which drew support from 4 hour 55 EMA and recovers. Focus is back on 108.93 temporary top. Break will resume whole rise from 104.45. Similarly, EUR/JPY is eyeing 121.46 temporary top too. In other markets, DOW opens slightly higher and it's up 0.2% at the time of writing. In Europe, FTSE is up 0.28%. DAX is up 0.07%. CAC is down -0.35%. German 10-year yield is down -0.028 at -0.393. Earlier in Asia, Nikkei rose 0.34%. Hong Kong HSI dropped -0.82%. China Shanghai SSE dropped -0.43%. Singapore Strait Times dropped -0.52%. Japan 10-year JGB yield dropped -0.0032 to -0.139. |
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