Strong employment data from the US boosts market sentiments as DOW future is up over 400 pts at the time of writing. European indices are also extending gains. The greenback however, shrugs of the data and it's trading as the second weakest for today, next to Yen. New Zealand Dollar is currently the strongest, followed by Sterling. Risk-on mode is somewhat pressuring Gold and lifting oil prices. Technically, Gold is back below 1760 after hitting as high as 1789 earlier this week. While some consolidations could be seen, outlook will stays bullish as long as 1747.37 support holds. Sterling pairs will remain something to pay attention, in particular 1.2542 resistance in GBP/USD and 0.9001 support in EUR/GBP. Break of these levels will indicate sustainable buying in the Pound. In Europe, currently, FTSE is up 1.21%. DAX is up 2.37%. CAC is up 2.17%. German 10-year yield is down -0.005 at -0.398. Earlier in Asia, Nikkei rose 0.11%. Hong Kong HSI rose 2.85%. China Shanghai SSE rose 2.13%. Singapore Strait Times rose 1.02%. Japan 10-year JGB yield dropped -0.0142 to 0.037. |
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