Entering into US session, markets are starting to digest the steep moves made earlier today. Euro is paring some losses and it's indeed trading in black against Sterling, Swiss and Yen at the time of writing. Swiss Franc has apparently turned weaker, probably on concern that SNB could intervene any time market stabilizes. Nevertheless, Aussie remains the strongest one, leading other commodity currencies firm, while Dollar is mixed. In other markets, Gold is considered failing to sustain above 2000 handle for now, and turned into consolidations first. WTI crude oil is also retreating back below 120 handle. Technically, we'll keep an eye on 1.1007 minor resistance in EUR/USD, 126.91 minor resistance in EUR/JPY and 1.0115 minor resistance in EUR/CHF. Break of these levels should indicate that selling climax in Euro has passed for the moment. That is, Euro would likely turn into consolidations first, even though near term bottoming might still be far away. In Europe, at the time of writing, FTSE is down -0.23%. DAX is down -1.36%. CAC is down -1.14%. Germany 10-year yield is up 0.054 at -0.014. Earlier in Asia, Nikkei dropped -2.94%. Hong Kong HSI dropped -3.87%. China Shanghai SSE dropped -2.17%. Singapore Strait Times dropped -1.21%. Japan 10-year JGB yield dropped -0.0053 at 0.147. |
