Selloff in Swiss Franc and Yen is the main focus today. But the forex markets are mixed elsewhere. Commodity currencies are mildly firmer as led by Aussie, but major pairs are just bounded in very tight range at the time of writing. Euro, Sterling and Dollar are mixed for the moment. But the picture could be changed drastically in the US session. Renewed selloff in US stocks could prompt some downside acceleration. Meanwhile, Fed Chair Jerome Powell’s comments on recent developments in yields would be scrutinized.

Technically, Canadian Dollar would worth a watch as WTI appears to have defended 58.57 near term support well. Sustained break of 85.08 temporary top in CAD/JPY would confirm up trend resumption. But break of 84.42 minor support will extend the consolidation from 85.08 with another falling leg. EUR/CAD is also under pressure again and sustained break of 1.5208 would finally confirm resumption of fall from 1.5783.
In Europe, currently, FTSE is down -0.40%. DAX is down -0.13%. CAC is down -0.05%. Germany 10-year yield is down -0.017 at -0.303. Earlier in Asia, Nikkei dropped -2.13%. Hong Kong HSI dropped -2.15%. China Shanghai SSE dropped -2.05%. Singapore Strait Times rose 0.48%. Japan 10-year JGB yield rose 0.0164 to 0.140.

Source: www.actionforex.com