Euro is under heavy selling pressure today on renewed worries over cut off of Russia gas supply. It's additionally pressured and Germany 10-year yield breaks below 1% handle again. For now, Sterling appears to be a distant second. On the other hand, Dollar and Yen are gaining most, followed by Swiss Franc. Commodity currencies are now taking a back seat, with Aussie, Kiwi and Loonie trading mixed. Technically, EUR/GBP's break of 0.8456 minor support now suggests that rebound form 0.8401 is finished, and fall from 0.8720 is resume to resume. A major focus in on whether EUR/USD will also break through 1.0118 minor support, and reach larger down trend through 0.9951 low. This time, if it happens, it might take a relatively much longer term for EUR/USD to regain parity. In Europe, at the time of writing, FTSE is up 0.61%. DAX is down -0.54%. CAC is down -0.11%. Germany 10-yaer yield is down -0.0085 at 0.933. Earlier in Asia, Nikkei dropped -0.16%. Hong Kong HSI rose 1.67%. China Shanghai SSE rose 0.83%. Singapore Strait Times rose 0.37%. Japan 10-year JGB yield rose 0.0035 to 0.210. |
