Global financial markets seemed to have turned into risk-off mode today, after both Fed and ECB sounded very cautious regarding economic outlook in their minutes. Swiss Franc extended recent volatility trading and gains broadly, followed by Sterling and Yen. On the other hand, New Zealand Dollar completed this week's recovery and resumed recent selloff. It's followed by Australian Dollar as the second weakest. Dollar is mixed for now, having little reactions to jobless claims data. The greenback is not giving up on its rebound attempt yet, but it's no committing to further rise too. Technically, NZD/USD's correction from 0.6715 resumes today by taking out 0.6519 temporary low. It's now heading to 0.6385 support and possibly further to 38.2% retracement of 0.5469 to 0.6715 at 0.6239. Similarly, NZD/JPY resumes the correction from 71.67 to 68.10 support and possibly further to 38.2% retracement of 59.49 to 71.67 at 67.01. A focus for the rest of the week is whether AUD/JPY would join the party by breaking through the near term trend line support, to start corrective the whole rise from 59.89. In Europe, FTSE is down -1.44% currently, DAX is down -1.27%. CAC is down -1.36%. German 10-year yield is down -0.0346 at -0.504, back below -0.5 handle. Earlier in Asia, Nikkei dropped -1.00%. Hong Kong HSI dropped -1.54%. China Shanghai SSE dropped -1.30%. Singapore Strait Times dropped -1.29%. Japan 10-year JGB yield rose 0.0006 to 0.030. |
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