Overall market sentiment stabilizes mildly entering into US session. Major European indexes pared back much of earlier losses, while US futures also turned positive. Even though US PPI showed stronger than expected reading, slightly better than expected jobless claims is support sentiment, in a way. Dollar attempt to extend rebound earlier, but quickly lost momentum again. As for today, Swiss Franc and Kiwi are the strongest one so far. Aussie and Sterling are the weakest. Technically, we'd maintain that Dollar need to take out some near term levels to prove its underlying strength. The levels include 1.1985 support in EUR/USD, 1.4008 support in GBP/USD, 0.7673 support in AUD/USD, 0.9163 resistance in USD/CHF, and 1.2265 resistance in USD/CAD. In Europe, at the time of writing, FTSE is down -1.37%. DAX is down -0.44%. CAC is down -0.3%. Germany 10-year yield is up 0.009 at -0.110. Earlier in Asia, Nikkei dropped -2.49%. Hong Kong HSI dropped -1.81%. China Shanghai SSE dropped -0.96%. Singapore Strait Times dropped -0.67%. Japan 10-year JGB yield rose 0.0158 to 0.095. |