After yesterday’s rally attempt, Euro is trading as the weakest one in Asian session today, together with Swiss Franc. Both are yet to find sustainable buying.

On the other hand, after a breather, Canadian Dollar is extending last week’s rally and is trading as the strongest one for today at this point. Dollar is helped by rebound in treasury yields. Yield curve also flattened in the “inverted” range. Yen also regains some grounds today.

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Asian markets are mildly higher, expect in China. At this point:

  • Nikkei is up 0.80%
  • Hong Kong HSI is up 0.25%
  • China Shanghai SSE is down -0.34%
  • Singapore Strait Times is up 0.30%

Japan 10 year JGB yield turns positive today, up 0.021 at 0.007. It reached as low as -0.045 just last week.

Overnight:

  • DOW rose 0.42% to 23531.35
  • S&P 500 rose 0.70% to 2549.69
  • NASDAQ rose 1.26% to 6823.47
  • 10 year yield rose 0.23 to 2.682

DOW is still limited by 23713.93 fibonacci level. S&P 500 is held by equivalent level at 2537.61. Also NASDAQ is kept relatively far below equivalent level at 6932.44.

Yield curve is still inverted from 1-year (2.600), 2-year (2.541), 3-year (2.525) to 5 year (2.539). But they are now back above Federal funds rate target of 2.25-2.50%.

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