Swiss Franc falls broadly today as other parts of the markets turned mixed. US treasury yield extends its sharp rally. But the impact on Dollar is some what offset by impressive rally in Germany and UK yields too. Euro recovers mildly but remains the worst performing one for the week, followed by Yen, and then Swiss. Australian Dollar is still the strongest one, followed by Kiwi and Loonie. But Dollar might pick up momentum again if supported by more hawkish comments from Fed policymakers. Technically, one focus for the end of the week is on whether Dollar could overpower commodity currencies. For now, as long as 0.7455 minor support in AUD/USD holds, further rise is expected through 0.7660 temporary top. As for USD/CAD, as long as 1.2591 minor resistance holds, deeper decline is expected through 1.2401. However, break of these two levels will argue that Dollar is striking back. In Europe, at the time of writing, FTSE is down -0.28%. DAX is down -1.89%. CAC is down -1.93%. Germany 10-year yield is up 0.0464 at 0.665. Earlier in Asia, Nikkei dropped -1.58%. Hong Kong HSI dropped -1.87%. China Shanghai SSE rose 0.02%. Singapore Strait Times dropped -0.64%. Japan 10-year JGB yield rose 0.0338 to 0.245. |
