Commodity currencies are trading generally lower in Asia today, with pull back in Japanese stocks in the background. Canadian Dollar is also soft after BoC's rate decision overnight. Dollar, Yen and Swiss Franc are trading mildly firmer, extending this week's rebound. Euro is following closely, but momentum is starting to diminish, as focus turns to ECB today. Technically, Euro will be a major focus today and we'll pay attention to some minor support levels, including 1.1792 support in EUR/USD. 0.8561 support in EUR/GBP, and 1.0843 support in EUR/CHF. These levels need to be violated together to indicate a broad based selloff in Euro. Otherwise, even if EUR/USD would dip deeper, Euro would just be considered in mixed trading. In Asia, at the time of writing, Nikkei is down -0.68%. Hong Kong HSI is down -1.83%. China Shanghai SSE is up 0.12%. Singapore Strait Times is up 0.19%. Japan 10-year JGB yield is down -0.0028 at 0.043. Overnight, DOW dropped -0.20%. S&P 500 dropped -0.13%. NASDAQ dropped -0.57%. 10-year yield dropped -0.036 to 1.344. |
