Dollar recovers in early US session as sluggish ADP job growth drags down stock futures. Additionally, treasury yields are having a mild rebound. At this point, Sterling is following as the strongest followed the day, then Canadian. New Zealand Dollar is leading Australian Lower, followed by Swiss Franc and Yen. Eyes will now be on the movements in yields, and the reactions and stocks and overall sentiments.

Technically, USD/JPY’s breach of 106.95 temporary top suggests that recent rally might be ready to resume. At the same time, USD/CHF is attempting a take on 0.9192 temporary top too. On the other hand, AUD/USD retreats ahead of 0.7844 minor resistance while USD/CAD recovers ahead of 1.2586 minor support. The greenback appears to be finding momentum to rebound against commodity currencies. Though, break of theses two levels, if accompanied by strength in stocks, would likely send Dollar lower elsewhere again.

In Europe, currently, FTSE is up 0.39%. DAX is up 0.23%. CAC is up 0.24%. Germany 10-year yield is up 0.041 at -0.308. Earlier in Asia, Nikkei rose 0.51%. Hong Kong HSI rose 2.70%. China Shanghai SSE rose 1.95%. Singapore Strait Times rose 0.89%. Japan 10-year JGB yield dropped -0.0061 to 0.124.

Source: www.actionforex.com