Dollar's rebound extends further today and remains firm entering into US session. Yen is following as the second strongest. Markets are paring back recent strong risk-on sentiment, on concern of near term deterioration in coronavirus spread and lockdowns. Commodity currencies are generally weakest for now, as led by Australian Dollar. European majors are mixed, with Swiss Franc on a slight lower hand. Technically, eyes remains on some near term levels in Dollar to confirm more broad-based buying. The levels include 1.3428 support in GBP/USD. 0.7641 support in AUD/USD. 0.8918 resistance in USD/CHF, and 1.2797 resistance in USD/CAD. Meanwhile, eyes will also be on 1855.40 minor resistance in Gold. As long as this resistance holds, we'd expect another fall to break through 1819.07 support before gold finds a bottom. But firm break of 1855.40 should suggest that selling climax is at least temporarily past. Dollar could also turn softer in this case. In Europe, currently, FTSE is down -0.77%. DAX is down -0.86%. CAC is down -0.73%. Germany 10-year yield is flat at -0.518. Earlier in Asia, Hong Kong HSI rose 0.11%. China Shanghai SSE dropped -1.08%. Singapore Strait Times dropped -0.31%. Japan was on holiday. |