The forex markets remain relatively quiet in Asian session today. Canadian Dollar surged briefly yesterday as lifted by rally in oil price. WTI crude oil remains firm in at 65.80, after rising on news that US is ending Iranian oil sanction wavier for eight countries. But the boost to the Loonie is rather brief while it turns soft ahead of BoC meeting later in the week. As for today, Yen is the strongest one so far as Asian markets turn soft coming back from holiday. Sterling follows as the second as yesterday's selloff lost momentum. Dollar is third with some support from rebound in US yields. Nevertheless, 2.6 remains a hurdle to overcome for 10-year yield. Australian, Canadian and New Zealand Dollar are the weakest. Technically, both USD/JPY and EUR/JPY breach 111.69 and 125.61 minor supports today. But there is no following through selling. EUR/USD's recovery also lost steam just ahead of 4 hour 55EMA. The three-way actions will remain in focus today. In other markets, Nikkei is down -0.24%. Hong Kong HSI is down -0.22%. China Shanghai SSE is down -0.72%. Singapore Strait Times is down -0.15%. Japan 10-year yield is down -0.0036 at -0.03, staying negative. Overnight, DOW dropped -0.18%. S&P 500 rose 0.10%. NASDAQ rose 0.22%. 10-yeary yield rose 0.030 to 2.590. |
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