The financial markets are generally mixed with subdued trading today. Nikkei did had a bad day, but the selloff didn't spread to other markets. European indices and US futures are mixed while Germany and US benchmark yields are mildly lower. As for currencies, Aussie and Sterling are currently the softer ones, followed by Dollar. Swiss Franc and Euro are the stronger ones, followed by Canadian. There isn't a very clear direction for now. Technically, as Euro is attempting a rally, eyes will be of its crosses. The levels to note include 1.1989 minor resistance in EUR/USD, 0.8638 minor resistance in EUR/GBP and 130.65 temporary top in EUR/JPY. As long as these levels holds, we'd treat current rebound in Euro as part of the near term corrective moves only. In Europe, currently, FTSE is up 0.15%. DAX is up 0.17%. CAC is down -0.32%. Germany 10-year yield is down -0.010 at -0.301. Earlier in Asia, Nikkei dropped -2.07%. Hong Kong HSI dropped -0.36%. China Shanghai SSE rose 1.14%. Singapore Strait Times dropped -0.21%. Japan 10-year JGB yield dropped -0.0338 to 0.082. |
