Entering into US session, Dollar and Canadian are the weakest one for today and the week. In particular, USD/CHF suffered renewed selling with a key support level at 0.9848 taken out firmly. That’s also thanks to broad based strengthen in Swiss Franc, which is the strongest one for today and the week. Yen is the second strongest for today but trails behind Euro as the third strongest for the week.
European markets are generally higher today. At the time of writing:
- FTSE is up 1.77%
- DAX is up 1.78%
- CAC is up 1.83%
- German 10 year yield is up 0.0023 at 0.235
- Italian 10 year yield is down -0.0242 at 2.723.
- German-Italian spread is below 250.
Earlier in Asia
- Nikkei closed down -0.31% to 20014.77, still holding above 20000 handle
- Hong Kong HSI rose 0.1% to 25504.20
- China Shanghai SSE rose 0.44% to 2493.90
- Singapore Strait Times rose 0.29% to 3053.43
- Japan 10 year JGB yield dropped -0.0232 to 0.001, very close to 0%.
With today’s downside acceleration, USD/CHF should have a take on 61.8% retracement of 0.9541 to 1.0128 at 0.9765 first. Firm break there will pave the way back to 0.9541 key support level.
