Movements in the forex markets are rather limited in European session, with some firmness seen in Dollar and Sterling. One focus is on the selloff in Canadian Dollar, which is dragged down by the steep decline in oil prices. Euro’s mild weakness is also worth a note, as partly weighed down by German sentiment data. Sterling’s rebound doesn’t warrant some sustainable moves yet. EU chief Brexit negotiator Michel Barnier will be in London today and stay until Wednesday for another rounds of talks. We’ll see if any results could be achieved this time.

Technically, USD/JPY and USD/CAD could be worth some attention today. Break of 105.03 minor resistance in USD/JPY would erase imminent downside breakout risk and suggest that consolidation from 104.00 is extending with another up leg. Similarly, break of 1.3259 minor resistance in USD/CAD will suggest that consolidation from 1.2994 is extending with another up leg too. These wouldn’t be strong signs of bullish reversal of Dollar. But at least, they could indicate Dollar’s selloff last week as past its climax.
In Europe, currently, FTSE is down -0.41%. DAX is down -2.66%. CAC is down -1.02%. German 10-year yield is up 0.004 at -0.567. Earlier in Asia, Nikkei dropped -0.09%. Hong Kong HSI rose 0.54%. China Shanghai SSE dropped -0.82%. Singapore Strait Times dropped -0.55%. Japan 10-year JGB yield dropped -0.0044 to 0.035.

Source: www.actionforex.com