 Commodity currencies are generally under some selling pressure today. Australian Dollar is the weakest one as RBA took another step to laid the ground for rate cut by dovish minutes. RBNZ Governor Adrian Orr reiterated the central bank's easing bias. Canadian Dollar was sold off overnight after poor Business Outlook Survey and remains weak in Asian session. On the other hand, Yen is paring some losses, but upside is limited by mild risk appetite in Asian stock markets. Swiss franc and Dollar follow as next strongest. Focus will turn to employment data from UK and investor sentiment in Germany. Technically, AUD/USD is holding well above 0.7115 minor support despite today's pull back. Thus, more upside remains mildly in favor in near term. Despite overnight strong rebound, USD/CAD is held well in range below 1.3467 resistance and more consolidation could be seen before upside breakout. USD/JPY lost momentum ahead of 112.13 but retreat is so far very shallow. Focus remains on this key resistance for today. In Asia, currently, Nikkei is up 0.26%. Hong Kong HSI is up 0.63%. China Shanghai SSE is up 1.11%. Singapore Strait Times is up 0.15%. Japan 10-year JGB yield is down -0.0037 at -0.034. Overnight, DOW dropped -0.10%. S&P 500 dropped -0.06%. NASDAQ dropped -0.10%. 10-year yield dropped -0.007 to 2.553, comfortably above 2.5 handle. | 
No comments:
Post a Comment