 There is not much change in the global investor sentiments today, as stock markets continue to rally on lockdown exit optimism. Much better than expected job data from the US also provide something to cheer. Though, in the currency markets, recent moves appear to have been exhausted. Australian Dollar turns notably weaker on profit taking after a long bull run. But Swiss Franc is the weakest while Canadian Dollar is not far behind ahead of BoC rate decision. On the other hand, New Zealand Dollar and Euro are currently the stronger ones for today. Markets could be turning into mixed consolidative trading. Technically, Gold is back eying 1711.01 minor support with this week's fall. Break will likely extend the corrective pattern from 1765.25 with another down leg, towards 100% projection of 1765.25 to 1693.54 from 1745.14 at 1673.53. That might be a sign of a rebound in Dollar elsewhere. Meanwhile, AUD/NZD continues to struggle to sustain above 1.0865 near term resistance. Break of 1.0667 minor support will indicate short term topping and bring deeper pull back. If both happens as mentioned, they could together point to a deeper pull back in the powerful AUD/USD. In Europe, currently, FTSE is up 1.16%. DAX is up 2.37%. CAC is up 2.01%. German 10-year yield is up 0.02277 at -0.384. Earlier in Asia, Nikkei rose 1.29%. Hong Kong HSI rose 1.37%. China Shanghai SSE rose 0.07%. Singapore Strait Times rose 3.40%. Japan 10-year JGB yield rose 0.0022 to 0.013. |
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