 European majors turn slightly stronger today, in mixed markets. Euro appears to be supported by news that US is refraining from tariffs hikes on Airbus subsidies retaliation. Though, except versus Yen, Euro's strength is not too convincing yet. Dollar turns soft again following strong rally in US stocks overnight. But surprisingly, commodity currencies are not riding on solid risk-on sentiments at all. Even a set of positive job data from Australia is not able to lift the Aussie. Focus will now turn to jobless claims from US later in the day. Technically, USD/CAD's breach of 1.3233 support suggests resumption of decline from 1.4667. But AUD/USD is held well below equivalent resistance at 0.7243. NZD/USD is also well below 0.6715 resistance. While Euro and Sterling are firm, EUR/USD is held below 1.1916 resistance and GBP/USD below 1.3185 resistance. USD/CHF is held above 0.9050 support. That is, dollar pairs are still generally range bound. In Asia, Nikkei closed up 1.78%. Hong Kong HSI is down -0.24%. China Shanghai SSE is up 0.04%. Singapore Strait Times is up 1.33%. Japan 10-year JGB yield is down -0.0119 at 0.032. Overnight, DOW rose 1.05%. S&P 500 rose 1.40% to 3380.35, just inch below record high of 3393.52. NASDAQ rose 2.13%. 10 year yield rose for another day, by 0.012 to 0.670. It remains to be seen if the rebound in yield is there to stay on not. |
No comments:
Post a Comment