While Kiwi and Aussie remain the strongest ones for today, Dollar is striking back as markets enter into US session. On the other hand, Canadian Dollar is now the selling focus. Euro and Swiss Franc also turn weaker. Overall markets are mixed though, with European indexes trading water while US futures advance. Gold is maintain gains above 1900 handle in spite of the greenback's rebound. WTI crude oil is reversing after failing near term resistance too. Technically, USD/CAD is now a focus for the rest of the day. As the current rebound extends, break of 1.2201 support will indicate short term bottom. More importantly, that would signal that a key long term support zone of 1.2048/61 is defended. In this case, USD/CAD is probably ready for near term bullish reversal, which could spillover to other Loonie pairs. In Europe, at the time of writing, FTSE is down -0.28%. DAX is flat. CAC is down -0.01%. Germany 10-year yield is down -0.032 at -0.196. Earlier in Asia, Nikkei rose 0.31%. Hong Kong HSI rose 0.88%. China Shanghai SSE rose 0.34%. Singapore Strait Times rose 0.72%. Japan 10-year JGB yield rose 0.0004 to 0.075. |
