Yen and Swiss Franc dominates the markets for the day, as selloff in stocks spread from Asia to Europe, to US. Risk aversion intensified with DOW down over -800 pts in initial trading, while 10-year yield breaks1.2 handle. Canadian Dollar is the worst performing one, as WTI crude oil breaks below 70 handle. However, Australian and New Zealand Dollar are not too far away. The greenback is mixed for the moment, a touch weaker than Euro, but firmer against Sterling. We'd now see if US indices could bend upward before close. Or, the selloff would spillover back to Asian markets tomorrow. Technically, one thing to note is USD/JPY's break of 109.52 support, that resume the fall from 111.65. We'd not firstly see if USD/CHF would break through corresponding support at 0.9116 too. Additionally, we'd see if that would also result in EUR/CHF's break of 1.0802 support. Or, EUR/USD could indeed ride on Dollar's selloff and rebound through 1.1880 resistance. The interactions would be interesting. In US markets, at the time of writing, DOW is down -2.27%, S&P 500 is down -1.83%. NADSAQ is down -1.61%. 10-year yield is down -0.0009 at 1.194. In Europe, FTSE is down -2.76%. DAX is down -2.97%. CAC is down -3.00%. Germany 10-year yield is down -0.048 at -0.399. Earlier in Asia, Nikkei dropped -1.25%. Hong Kong HSI dropped -1.84%. China Shanghai SSE dropped -0.01%. Singapore Strait Times dropped -1.30%. Japan 10-year JGB yield rose 0.0012 to 0.019. |
