The sharp reversal in Chinese stocks is somewhat weighing on global sentiments today. European indices are generally in red while US stocks also open mildly lower. Dollar firms up mildly but upside momentum is unclear for now. Euro is also resilient after ECB stands pat as widely expected and delivers nothing astonishing. On the other hand, Australian Dollar and New Zealand Dollar are paring some of this week's gains after dissatisfying job and inflation data. Sterling is also soft as data suggests more people have left the job market during the pandemic. Technically, Yen crosses appear to be picking up some buying in early US session. For today's session, focus will be on 107.43 minor resistance in USD/JPY, 122.50 minor resistance in EUR/JPY and 1350.58 minor resistance in GBP/JPY. Break of theses levels could prompt some buying into next Asian session. Gold will also be a focus as it's still inch below 1817.91 short term top. Break will resume larger up trend, and could hint on renewed selling in Dollar elsewhere. In Europe, currently, FTSE is down -0.24%. DAX is down -0.36%. CAC is down -0.39%. German 10-year yield is down -0.0179 at -0.461. Earlier in Asia, Nikkei dropped -0.76%. Hong Kong HSI dropped -2.00%. China Shanghai SSE dropped -4.50%. Singapore Strait Times dropped -0.95%. Japan 10-year JGB yield dropped -0.0096 to 0.016. |
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