 Dollar remains the strongest one for the week, followed by Yen, as risk aversion continue to dominate. The recovery attempts in European stocks appeared to have faded very quickly while DOW futures point another day of lower open. Sterling is relatively resilient, with some support from the new jobs support scheme announced by UK Finance Minister Rishi Sunak. But there is no sign of a clear rebound versus Dollar and Yen. Swiss Franc is mixed as markets shrug off SNB rate decision. On the other hand, Australian Dollar continues to lead other commodity currencies lower. Technically, we'll continue to watch 1.6586 resistance in EUR/AUD and 0.9409 support in AUD/CAD. Decisive break of these level indicate there selling pressure on the Aussie is there to stay for longer. On the other hand, 0.9067 support in EUR/GBP is level to pay attention to too. Firm break there will be an early sign of near term bearish reversal and would target 0.8866 support next. GBP/AUD, on the other hand, would be eyeing 1.8411 resistance and break could confirm completion of whole decline from 2.0854. These pairs would be very interactive in the coming days. In Europe, currently, FTSE is down -0.74%. DAX is down -0.19%. CAC is down -0.46%. Germany 10-year yield is down -0.0199 at -0.520. Earlier in Asia, Nikkei dropped -1.11%. Hong Kong HSI dropped -1.82%. China Shanghai SSE dropped -1.72%. Singapore Strait Times dropped -1.22%. Japan 10-year JGB yield rose 0.0002 at 0.010. |
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