 Risk aversion is the dominant theme today, with deep selloff in global equity markets. Treasury yields took a dive while gold and oil prices surge. Sentiments are rocked by abrupt escalation in Middle East tensions, after US military had killed Qasem Solemaini, the head of Iran's Islamic Revolutionary Guard Corps — Quds Force. In the currency markets, Yen and Dollar are overwhelmingly the strongest ones. Australian and New Zealand Dollar are the weakest, but Euro and Sterling are not too far away. Technically, GBP/USD's break of 1.3105 suggests that recovery from 1.2905 has completed at 1.3284. Retest of 1.2905 could be seen next. GBP/JPY's corrective fall from 147.95 should be resuming for 139.77 fibonacci level. AUD/USD breaches 0.6938 resistance turned support but could sustain below yet. This will be a focus for the rest of the session. Firm break there will be an early sign of near term bearish reversal. In other markets, DOW future is currently down -270 pts. In Europe, FTSE is down -0.28%. DAX is down -1.69%. CAC is down -0.43%. German 10-year yield is down -0.060 at -0.280. Earlier in Asia, Japan was on holiday. Hong Kong HSI dropped -0.32%. China Shanghai SSE dropped -0.05%. Singapore Strait Times dropped -0.41%. | 
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