 Dollar surges broadly in early US session in response to much better than expected durable goods order data. Yet, it's actually still held well below near term resistance level to confirm bottoming. Gold's decline is a positive sign for the greenback and we'll see if there is following buying. Staying in the currency markets, Euro is the weakest one for today, somewhat pressured as an ECB official said it's not at effective lower bound on rates. Swiss France is following as the second weakest. Technically, Gold's fall from 2015.66 resumed by taking out 1911.43 temporary low. Near term bias is also kept on the downside by falling 4 hour 5 EMA. Deeper decline should be seen to 1862.55 to extend the consolidation pattern from 2075.18. That might help provide some support to Dollar. But these level needs to be taken out to confirm bottoming: 1.1711 support in EUR/USD, 1.3005 support in GBP/USD, 0.7109 support in AUD/USD, 0.9197 resistance in USD/CHF and 1.3271 resistance in USD/CAD. In Europe, currently, FTSE is down -0.05%. DAX is up 0.46%. CAC is up 0.32%. Germany 10-year yield is up 0.028 at -0.402, pressing -0.4 handle. Earlier in Asia, Nikkei dropped -0.03%. Hong Kong HSI rose 0.02%. China Shanghai SSE dropped -1.30%. Singapore Strait Times dropped -0.66%. Japan 10-year JGB yield rose 0.0108 to 0.046. |
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