Yen recovers notably in Asian session today but the recovery is not strong enough to warrant a sustainable rebound yet. Meanwhile, Australian and New Zealand Dollar are generally pressured while there is no apparent sign of risk aversion. The economic calendar is not particular busy today with some second-tier data only. It may take more time for the markets to unfold the direction for the week. The US-China trade negotiation last week ended with "guarded optimism" from White House economic adviser Larry Kudlow, without details of course. Focus is back on never-ending Brexit drama as April 12 deadline looms. EU-China summit in Brussels might catch some attentions but expectations are low. ECB meeting, US CPI and FOMC minutes will be more interesting to watch. Technically, Dollar is turning slightly softer again today. EUR/USD is held comfortably above 1.1176 key support so far. And recovery could put focus back to 1.1273 minor resistance. Break will confirm short term bottoming. USD/JPY could also be heading to 111.18 minor support. Break will indicate rejection ahead of 112.13 resistance and suggest near term reversal. USD/CHF also bounced from 1.0010 minor resistance, which could prompt more selling. Elsewhere, in Asia, Nikkei is down -0.17%. Hong Kong HSI is up 0.29%. China Shanghai SSE is down -0.09%. Singapore Strait Times is down -0.28%. Japan 10-year JGB yield is down -0.0136 at -0.043. |
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