Risk aversion continues today but selloff in the stock markets seem to be easing a bit, with major European indices off lows at the time of writing. Global coronavirus outbreak remains the main focus, with South Korea’s cases surge again to 1261, with 12 deaths. Cases in Italy rose to 323 with 11 deaths. Cases in Japan rose to 171 with 2 deaths. In Iran, cases rose to 139, with 19 deaths. In the currency markets, Sterling is currently the worst performing one for today, followed by Australian Dollar. Dollar is the strongest, followed by Swiss Franc, and then Euro.

Technically, AUD/USD’s down trend is showing some sign of acceleration for 0.6479 projection level next. EUR/USD breached 1.0898 fibonacci resistance but quickly retreats. We’d continue to expect 1.0898 to hold there to bring larger down trend resumption. USD/CHF also breached 0.9741 but recovered. This level will be closely watched as hint on Dollar’s performance against Euro and Yen.

In Europe, currently, FTSE is down -0.31%. DAX is down -0.25%. CAC is down -0.08%. German 10-year yield is up 0.0261 at -0.484. Earlier in Asia, Nikkei dropped -0.79%. Hong Kong HSI dropped -0.73%. China Shanghai SSE dropped -0.83%. Singapore Strait Times dropped -1.29%. Japan 10-year JGB yield rose 0.0097 to -0.093.


Source: www.actionforex.com