Yen is finally recovering slightly today, as selloff in bonds ease. That is by no means an indication of reversal. But the Japanese currency should be turning into a consolidation phase after recent massive selloff. Dollar is also firming up slightly too, except versus Yen and Aussie. On the other hand, the rebound in Sterling seems to have lost all its momentum, except versus Euro, which is turning weaker again too. Technically, WTI crude oil's rebound from 93.98 resumes after brief retreat and it's back above 115.5. For now further rise is in favor as long as 109.03 minor support holds. Firm break of 61.8% retracement of 131.82 to 93.98 at 117.36 could pave the way back to 131.82 high. Such development could have a knock on the rebound in stocks, or at least cap the momentum. In Europe, at the time of writing, FTSE is down -0.09%. DAX is down -1.30%, CAC is down -1.00%. Germany 10-year yield is down -0.0193 at 0.487. Earlier in Asia, Nikkei rose 3.00%. Hong Kong HSI rose 1.21%. China Shanghai SSE rose 0.34%. Japan 10-year JGB yield rose 0.0063 to 0.226. |
