Dollar and Yen are back under notable selling pressure today. US investors are apparently ignoring continuing surge in global coronavirus infections, which broke 40m mark. Instead, there is renewed hope of fresh fiscal stimulus, as House Speaker Nancy Pelosi said a pre-election deal remains possible. Meanwhile, UK and EU are resuming Brexit talks. On the back, Chinese economic also painted some optimism. Though, commodity currencies seemed to be left behind as Euro and Sterling are the strongest ones. Technically, EUR/USD's break of 1.1771 minor resistance invalidates near term bearish bearishness. Focus is back on 1.1830 minor resistance and break will bring retest of 1.2011 high. Similarly, break of 1.3082 resistance in GBP/USD could bring retest of 1.3482 high. Break of 0.9087 support in USD/CHF would bring retest of 0.8998 low. Ideally, a full fledged return of Dollar selloff should be accompanied by break of 1933.17 resistance. We'll see if that happens. In Europe, currently, FTSE is down -0.24%. DAX is down -0.16%. CAC is up 0.20%. German 10-year yield is up 0.0053 at -0.612. Earlier in Asia, Nikkei rose 1.11%. Hong Kong HSI rose 0.64%. China Shanghai SSE dropped -0.71%. Singapore Strait Times rose 0.42%. Japan 10-year JGB yield rose 0.0024 to 0.026. |
