Markets are generally back in risk aversion, as selloff was sparked by historic move in oil prices. Yen and Dollar strengthen broadly as a result. Canadian dollar was weighed down slightly too but selloff is limited so far. Instead, New Zealand and Australian Dollars are the weakest for now. European majors are mixed together with Gold. Technically, immediate focus is now on 1.4182 minor temporary top in USD/CAD. Break there will solidify the case that corrective pattern from 1.4667 has indeed completed at 1.3855. Further rise would be seen to 1.4349 resistance next. 116.33 support in EUR/JPY is another focus too. Break will bring deeper fall to 115.86 low and break will resume medium term down trend. In Asia, Nikkei closed down -1.97%. Hong Kong HSI is down -2.08%. China Shanghai SSE is down -1.17%. Singapore Strait Times is down -1.48%. Japan 10-year JGB yield is up 0.0042 at 0.017. Overnight, DOW dropped -2.44%. S&P 500 dropped -1.79%. NASDAQ dropped -1.03%. 10-year yield dropped -0.028 to 0.626. |
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