The financial markets are, generally speaking, a bit mixed today. European stocks are slightly in red while US futures are down. But losses are very limited. Bulls are still in overwhelming control. In the currency markets, Swiss Franc drops sharply as recent volatile trading continues. Dollar attempted for a rebound earlier today but quickly lost steam. Commodity currencies are engaging in consolidations, awaiting next move in the risk markets. Technically, EUR/CHF rebounds strongly after drawing support from 1.0578 minor support. near term outlook stays cautiously bullish and break of 1.0662 resistance will target 1.0710 cluster resistance zone. Gold's recovery lost momentum after hitting 1753.81 and weakens again. We're favoring the case that price actions from 1765.25 would eventually correct whole rise from 1451.16. Break of 1725.00 minor support will affirm our view and target 38.2% retracement of 1451.16 to 1765.25 at 1645.26. In Europe, currently, FTSE is down -0.39%. DAX is down -0.98%. CAC is down -0.77%. German 10-year yield is down -0.021 at -0.486. Earlier in Asia, Nikkei dropped -0.21%. Hong Kong HSI dropped -0.49%. China Shanghai SSE dropped -0.55%. Singapore Strait Times dropped -0.26%. Japan 10-year JGB yield dropped -0.0023 to 0.000. |
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