Entering into US session, Dollar is the strongest one for today and is making some progresses on rally attempt. USD/CAD has taken out 1.3340 resistance which completes a near term head and shoulder reversal pattern. But at this point, the greenback still fails to break near term resistance against Euro, Swiss and Aussie yet. Boston Fed Eric Rosengren’s speech provides little inspiration. And the greenback might look into ISM services.
At this point, Euro is the second strongest one, followed by Swiss Franc. Data from Eurozone continue to paint a picture that the worst is behind. Italy services PMI rose to 50.4, back above 50. France PMI services was revised up to 50.2, back above 50. Eurozone PMI services was also revised up to 52.8. Retail sales rose 1.3% mom. German 10-year yield is back above 0.18 but European stocks shrug.
Meanwhile, Sterling suffers fresh selling at the moment and is trading as the weakest one. Weaker than expected PMI services provide no support. There’s report that UK isn’t expecting a breakthrough on Irish backstop when Attorney General Geoffrey travels to Brussels tonight. But it’s hardly any news. Commodity currencies follow as next weakest.
In Europe, currently:
- FTSE is up 0.35%.
- DAX is down -0.28%.
- CAC is down -0.25%.
- German 10-year yield is up 0.0201 at 0.183.
Earlier in Asia:
- Nikkei dropped -0.44%.
- Hong Kong HSI rose 0.01%.
- China Shanghai SSE rose 0.88%.
- Singapore Strait Times dropped -0.52%.
- Japan 10-year JGB yield rose 0.008 to 0.009.
