 Dollar is attempting to rebound today together with Yen and Swiss Franc, while Kiwi and Aussie weaken. European stocks and US futures are down mildly on resurging number of global coronavirus crisis cases. Also, the US Trade Representative said wants to impose new tariffs on USD 3.1B of exports from France, Germany, Spain and UK. Investors are concerned with risks of transatlantic trade war. But overall, there is no committed direction in the markets, except in NASDAQ and Gold, which extended up trend this week. Technically, selloff in Dollar this week appears to be losing momentum quickly. Even EUR/USD was held below 1.1353 minor resistance. USD/CHF also recovers well ahead of 0.9376 low. Recoveries in EUR/JPY and GBP/JPY also lost steam after hitting 4 hour 55 EMA. A focus will be on USD/JPY today. As long as 107.22 minor resistance holds, further fall should be seen to 105.98 support and below. That could drag other yen crosses into decline resumption too. In Europe, currently, FTSE is down -2.11%. DAX is down -1.88%. CAC is down -1.86%. German 10-year yield is up 0.042 at -0.395. Earlier in Asia, Nikkei dropped -0.07%. Hong Kong HSI dropped -0.50%. China Shanghai SSE rose 0.30%. Singapore Strait Times dropped -0.24%. Japan 10-year JGB yield rose 0.0054 to 0.016. |
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