Markets are generally quite today with US on holiday. PBoC’s stimulus measure might have boosted Chinese stocks higher. Reactions from other markets are rather muted. Investors remain generally cautious as this week’s February sentiment data will reveal how much China’s Wuhan Coronavirus outbreak is hurting confidence. In the currency markets, Canadian is currently the strongest, followed by Swiss Franc and Aussie. Sterling is the weakest followed by New Zealand Dollar.

Technically, there is no special development for the moment. Major pairs and crosses are somewhat in consolidative mode today and outlook is generally unchanged. Euro stays bearish as long as 1.0888 minor resistance in EUR/USD, 119.55 minor resistance in EUR/JPY and 0.8386 resistance in EUR/GBP hold. Yen is mixed for now and is awaiting USD/JPY to make up its mind, with a break of 110.28 resistance of 109.53 support.

In Europe, currently, FTSE is up 0.24%. DAX is up 0.17%. CAC is up 0.15%. German 10-yaer yield is down -0.0017 at -0.400. Earlier in Asia, Nikkei dropped -0.16%. Hong Kong HSI rose 0.52%. China Shanghai SSE rose 2.28%. Singapore Strait Times dropped -0.22%. Japan 10-year JGB yield dropped -0.0060 to -0.038

Source: www.actionforex.com