 Australian Dollar is again the focus in Asian session today. It drops sharply on surprised turn in RBA Governor Philip Lowe's stance. To him, the next interest rate move is no longer more likely a hike, but evenly balanced. Aussie reversed all of yesterday's gains and it's now trading as the weakest one for today and the week. New Zealand and Canadian follow as second and third weakest. On the other hand, Yen is the strongest one for now, followed by Sterling and then Swiss Franc. Technically, AUD/USD's break of 0.7180 minor support is taken as the first sign that recent rebound from 0.6722 flash crash has completed. Focus will turn to 0.7076 support for confirmation. EUR/AUD also jumps today and focus will be on 1.6038 resistance to align the outlook with AUD/USD. EUR/USD's breach of 1.1407 minor support suggests that rebound from 1.1289 has completed. Now, outlook in EUR/USD, GBP/USD, USD/CHF and AUD/USD suggests more upside in the greenback. 1.3165 minor resistance in USD/CAD will be watched to confirm the come back of Dollar. In other markets, Nikkei is closed up 0.15% at 20875.63. Japan 10-year JGB yield is down -0.0062 at -0.015, staying negative. China, Hong Kong and Singapore are still on lunar new year holiday. Overnight, DOW rose 0.68%. S&P 500 rose 0.47%. NASDAQ rose 0.74%. 100year yield dropped -0.022 to 2.702, defended 2.7 handle. |
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