Entering into US session, Yen and Swiss Franc are trading as the weakest one for today on easing risk aversion. At the time of writing, major European indices are trading higher, following 1.36% gain in China SSE. Sterling also softens after poor GDP data, which showed contraction in December. 2018 overall was also the worst year in UK since 2012. But weakness in the Pound is so far limited. Meanwhile, Canadian, New Zealand and Dollar are the three strongest ones.
Technically, USD/CHF’s rally resumed by taking out 1.0028 and is on track to retest 1.0128 high. USD/JPY also broke out of tight range, through 110.16, to resume recent rebound. EUR/USD edges lower today and is eyeing 1.1289 support. Break there will bring retest of 1.1215 low next. AUD/USD weakens today, thanks to Dollar’s strength mainly, and it main challenge 0.7060 temporary low later in the session.
In European markets, currently:
- FTSE is up 0.77%.
- DAX is up 1.02%.
- CAC is up 1.09%.
- German 10-year yield is up 0.0241 at 0.114.
Earlier in Asia:
- Hong Kong HSI rose 0.71%.
- China Shanghai SSE was back from holiday and rose 1.36%.
- Singapore Strait Times rose 0.13%.
- Japan was on holiday today.