 Commodity currencies recover broadly in Asian session as risk markets somewhat stabilized. US stocks closed mixed with DOW paring much of initial losses overnight. New Zealand Dollar is additional supported by record exports in March, and helps lift Australian too. Yen is the weakest so far for today, followed by Dollar and then Euro. Nevertheless, for the week, Yen remains overwhelmingly the strongest one, with help from steep decline in US and European treasury yields. Dollar follows as the second strongest on flight-to-quality flow. Australian Dollar is the weakest one as case for RBA cut continued to build up. Euro is, for now, second weakest for the week on gloomy outlook. The race between Dollar and Yen could very much depend on Q1 GDP data from US today. Technically, USD/JPY's break of 111.65 support overnight is seen as first indication of near term bearish reversal. For now, deeper decline is in favor to 110.84 support for confirmation. EUR/JPY is on track to 123.65 support next, as fall from 126.79 extends. GBP/JPY is pressing 143.72 key support now. Decisive break there will turn near term outlook bearish, aligning with other Yen crosses. In Asia, currently, Nikkei is down -0.52%, Hong Kong HSI is up 0.08%. China Shanghai SSE is down -0.71%. Singapore Strait Times is up 0.05%. Japan 10-year JGB yield is down -0.0139 at -0.043. Overnight, DOW dropped -0.51%. S&P 500 dropped -0.04%. NASDAQ rose 0.21%. 10-year yield rose 0.012 to 2.534. | 
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