Entering into US session, Sterling is the strongest one in a rather listless day so far. Technical support is seen as the major reason for the bounce. GBP/USD is close to 1.2960 key near term support. EUR/GBP is also “relatively” close to 0.8722 key near term resistance. Yen and Dollar are the next strongest ones, mainly thanks to sluggishness elsewhere.

For now, Swiss Franc is the weakest one, as funds are flowing out of this safe haven. Rise in oil price is seen as a major factor. Technically, USD/CHF broke 1.0128 key resistance last week and medium term up trend has resumed for 1.0342 resistance. EUR/CHF also takes out 1.1444 key resistance today, indicating near term reversal. 1.1501 resistance is next and will likely be conquered with ease. Australian and New Zealand Dollar are the next weakest. The Aussie will be vulnerable to CPI release tomorrow.

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In Europe:

  • FTSE is up 0.45%.
  • DAX is down -0.23%.
  • CAC is down -0.14%.
  • German 10-year yield is up 0.0288 at 0.055.

Earlier in Asia:

  • Nikkei rose 0.19%.
  • Hong Kong HSI dropped -0.00%.
  • China Shanghai SSE dropped -0.51%.
  • Singapore Strait Times dropped -0.13%.
  • Japan 10-year yield dropped -0.0025 to -0.029.


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