 The forex markets are relatively quiet today, with little reactions to the record run in US stock markets overnight. Yen is indeed to trying to rally risk appetite markets, drawing support from 10-year JGB yield which turns positive. Swiss Franc is generally firm as this week's rally is maintaining mild momentum. Sterling remains soft as this week's correction is set to extend further. For the week, the Pound is the weakest one, followed by Euro and then Dollar. Swiss is the strongest, followed by Canadian. Technically, the strength in Swiss Franc is worth a note. USD/CHF is on track to extend the fall from 1.0023 to retest 0.9659 low. With break of 1.0910 support yesterday, EUR/CHF is also heading back to 1.0811 low. The developments are keeping EUR/USD is very tight range. But near term outlook in EUR/USD stays cautiously bullish as the pair is kept well above 1.1039 support. In Asia, currently, Nikkei is down -0.06%. Hong Kong HSI is up 0.30%. China Shanghai SSE is up 0.03%. Singapore Strait Times is down -0.02%. Japan 10-year JGB yield is up 0.0097 at 0.005, finally turned positive. Overnight, DOW rose 0.49%. S&P 500 rose 0.45%. NASDAQ rose 0.67%. All were new record highs. 10-year yield dropped -0.016 to 1.908. |
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