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Into US session: AUD weakest, Yen strongest. China SSE drags global sentiments

Entering into US session, Australian Dollar is trading as the weakest one today, followed by Canadian and then Euro. Yen is the strongest one, followed by Dollar an Sterling. Risk aversion seems to be back as led by Asian markets, in particular China and Hong Kong. DOW future is currently down -140 pts but we’ll have to see if US stocks could regain strength.

Sterling is boosted by strong employment data, which saw acceleration in wage growth. Unemployment rate also dropped to lowest since 1975. But there is apparently no progress in Brexit negotiation, which is the ultimate driver in Sterling’s trend. Euro got little support from mixed German ZEW economic sentiment, which saw improvement in the sentiment index but sharp deterioration in current condition index.

In Europe, currently:

  • FTSE is down -0.44%.
  • DAX is down -0.49%.
  • CAC is down -0.51%.
  • German 10-year yield is down -0.0137 at 0.242.

Earlier in Asia:

  • Nikkei dropped -0.47%.
  • Hong Kong HSI dropped -0.70%
  • China Shanghai SSE dropped -1.18%
  • Singapore Strait Times dropped -0.86%
  • Japan 10-year JGB yield dropped -0.006 to -0.001, turned negative.

Today’s sharp fall in SSE is the first since of notable weakness since rebound started on Jan 4. 2557.71 is now a support level to defend and break will be an early sign of reversal, which could drag global sentiments lower.

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