 Dollar's selloff accelerates entering into US session, taking out recent lows against all major currencies except Yen. Another leg in the near term down trend has started. Swiss Franc and Yen are the next weakest, together with New Zealand dollar. On the other hand, Sterling and Euro are both riding on the wave and strengthen across the board. Gold is extending recent rebound, taking out 2010 handle. Crude oil, nevertheless, stays below recent top. Technically, EUR/USD has taken out 1.1916 resistance. GBP.USD broke 1.3185 resistance. AUD/USD broke 0.7243 resistance. USD/CHF broke 0.9050 support. USD/CAD took the lead earlier by breaking 1.3191 support. A focus is now on whether USD/JPY would break 105.30 support to confirm completion of rebound from 104.18. At the same time, EUR/JPY might diverge with USD/JPY and break 126.75 resistance. We'll keep an eye on the interactions. In Europe, currently, FTSE is down slightly by -0.01%. DAX is up 0.50%. CAC is up 0.15%. Germany 10-year yield is up 0.008 at -0.442. Earlier in Asia, Nikkei dropped -0.20%. Hong Kong HSI rose 0.08%. China Shanghai SSE rose 0.36%. Singapore Strait Times dropped -0.33%. Japan 10-year JGB yield dropped -0.0054 to 0.040. |
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