 The financial markets are generally treading water in Asian session today, with very limited movements. Yen, Swiss Franc and Dollar are the strongest ones for the weak so far. But there is not much committed buying seen yet. On the other hand, Sterling is the worst performing one for the week at this point, with clearer follow through selling. Commodity currencies are also soft, awaiting range breakout in stocks. Technically, GBP/USD, GBP/JPY and GBP/CHF has also resumed recent decline. But EUR/GBP is still bounded in range of 0.8866/99054. Break of 0.9054 resistance EUR/GBP is preferred to confirm underlying weakness in the Pound. Yet, Euro's own softness might cap EUR/GBP's upside. Both EUR/USD and EUR/JPY have resumed recent decline. A break of 1.0650 temporary low in EUR/CHF could drag Euro down elsewhere, and could kick EUR/GBP back to the lower side of the range. In Asia, Nikkei is currently up 0.14%. Hong Kong HSI is down -0.11%. China Shanghai SSE is up 0.39%. Singapore is down -0.81%. Japan 10-year JGB yield is up 0.0012 at 0.017. Overnight, DOW dropped -0.15%. S&P 500 rose 0.06%. NASDAQ rose 0.33%. 10-year yield dropped -0.039 to 0.694. |
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