 Dollar, Canadian and Yen are so far the strongest ones in a relatively quiet day. The greenback is supported by recent data as well as easing trade tension. But as the US economic calendar is ultra light this week, Dollar's fate is likely on others' hands. Canadian Dollar is supported by oil prices, which surged on double-whammy production disruption in Libya and Iraq. On the other hand, Sterling is extending recent broad based weakness on BoE rate cut speculations. Technically, focus stays on 1.1085 support in EUR/USD, which is breached already. Sustained break will complete a head and shoulder top pattern, which should at least turn outlook bearish for 1.0981 support. However, USD/JPY is clearly losing upside momentum, following other Yen crosses like EUR/JPY and GBP/JPY. Break of 109.79 support in USD/JPY will indicate short term topping and bring deeper pull back. That could limit downside of EUR/USD. In Europe, currently, FTSE is down -0.16%. DAX is up 0.11%. CAC is down -0.19%. German 10-year yield is up 0.003 at -0.207. Earlier in Asia, Nikkei rose 0.18%. Hong Kong HSI is down -0.90%. Shanghai SSE rose 0.66%. Singapore Strait Times dropped -0.03%. Japan 10-year JGB yield rose 0.0083 to 0.009. |
No comments:
Post a Comment