 Dollar's rebound continues in early US session as positive response to better than expected jobless claims data. For the moment, Swiss Franc is the second strongest, followed by Euro, and both surges against the weak Sterling. Commodity currencies follow as the next weakest, as gold and oil soften. Yen turned mixed as rally in European stocks could be offset by pull back in US markets. Technically, we'd still maintain that break of 1.1762 support in EUR/USD and 0.9161 resistance in USD/CHF are needed to indicate that Dollar is undergoing a sustainable near term rebound. Swiss Franc could be a tricky one as it's rebounding strongly against other European majors. Focus in GBP/CHF is now back on 1.2034 resistance turned support with today's decline. Firm break there should confirm rejection by 1.2259 resistance. Recent sideway trading would then be extending with another falling leg back towards 1.1630 support. In Europe, currently, FTSE is up 0.50%. DAX is up 0.94%. CAC is up 1.58%. German 10-year yield is down -0.004 at -0.472. Earlier in Asia, Nikkei rose 0.94%. Hong Kong HSI dropped -0.45%. China Shanghai SSE dropped -0.58%. Singapore Strait Times dropped -0.32%. Japan 10-year JGB yield dropped -0.0116 to 0.034. | 
No comments:
Post a Comment