 Sterling tumbles broadly today as another round of Brexit negotiations ended without making any significant progress. Though, Aussie is even weaker as traders are finally taking profits on this week's strong rally. Swiss Franc, on the other hand, rebound strongly, particular against Euro as the lift from EU recovery funds fade. Dollar is mixed for today, staying as the weakest for the week together with Yen. Stock markets are mixed, shrugging off rebound in US jobless claims, continuously increasing global coronavirus cases, and quickly deteriorating US-China relations. Technically, Dollar should have found a temporary low against Euro, Sterling and Australia. But no bottoming is confirmed until 1.1402 support in EUR/USD, 1.2480 support in GBP/USD and 0.6963 support in AUD/USD are taken out. EUR/CHF could be a focus before weekly close. As long as 1.0701 minor support holds, rise from 1.0602 is still expected to resume through 1.0797 to 1.0915 high. But break of 1.0701 will suggest completion of the rebound and turn focus back to 1.0602. In Europe, currently, FTSE is up 0.34%. DAX is up 0.11%. CAC is up 0.01%. German 10-year yield is up 0.003 at -0.487. Earlier in Asia, Japan was on holiday. Hong Kong HSI rose 0.82%. China Shanghai SSE dropped -0.24%. Singapore Strait Times rose 0.69%. |
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