Asian markets closed in deep red earlier today while European stocks dived in initial trading. Yet, the markets were saved by much stronger than expected PMI data out of Eurozone and UK. Overall sentiments recovered notably, with US futures pointing to a rebound at open. In the currency markets, Canadian Dollar, Dollar and Aussie are currently the stronger ones. Sterling and Kiwi are the worst at the time of writing. Yen has pared back some earlier gains. Technically, EUR/USD's break of 1.1834 support suggests that corrective fall from 1.2348 has resumed. This is inline with the developments in both GBP/USD and AUD/USD. One focus is now on whether USD/CHF would break through 0.9374 resistance to resume the larger rise from 0.8756. Another focus is whether USD/JPY would defend 108.33 support well, to set the base for upside breakout. Or, it would break through this 108.33 to bring deeper near term correction. In Europe, currently, FTSE is down -0.29%. DAX is down -0.60%. CAC is down -0.28%. Germany 10-year yield is down -0.006 at -0.343. Earlier in Asia, Nikkei dropped -2.04%. Hong Kong HSI dropped -2.03%. China Shanghai SSE dropped -1.30%. Singapore Strait Times rose 0.05%. Japan 10-year JGB yield dropped -0.0124 to 0.068. | 