 The overall markets are relatively steady today. Dollar attempted for a brief rally in early European session. But it quickly retreated together with mild recovery in stocks. Though, there seems to be no committed buying in the equities market yet, while US futures also point to lower open, risk aversion could come back any time. As of the time of writing, Yen and Dollar remain the stronger ones for the week, Kiwi and Aussie weakest. Sterling is mixed even though UK Prim Minister Boris Johnson announced some coronavirus restrictions that could stay in place for six months. Technically, the case for a stronger rally in Dollar is building up. Yet, we'd still prefer to see clean break of 1.1737 support in EUR/USD and 1.2762 support in GBP/USD at least. Similarly, we'd also prefer to see another fall in gold through yesterday's spike low of 1882.24 to giver us more confidence on Dollar's momentum. In Europe, currently, FTSE is up 0.26%. DAX is up 0.67%. CAC is up 0.21%. German 10-year yield is up 0.0151 at -0.512. Earlier in Asia, Hong Kong HSI dropped -0.98%. China Shanghai SSE dropped -1.29%. Singapore Strait Times dropped -0.90%. Japan was on holiday. |
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