US stocks closed generally higher overnight even though the rally looks a bit stretched. Positive sentiments continue in Asian session today. Yen is naturally one of the weakest on risk appetite. But Australian and New Zealand Dollar are also among the weakest, continuing recent decoupling with risk markets. We'll see if such decoupling is developing into a long-lasting trend. Meanwhile, Canadian Dollar and Euro are so far the strongest ones for today. Technically, EUR/AUD's break of 1.6262 indicates resumption of recent rise from 1.5683 and could be targeting 1.6765 high eventually. AUD/USD's recovery from 0.6864 should have completed at 0.7022 and deeper fall would be seen back to retest this low. EUR/USD is so far very resistant despite Dollar's rebound attempts. Euro is partly helped by rises in crosses in particular against Sterling and Aussie. For now, as long as 1.1251 minors support holds, EUR/USD's rebound from 1.1107 is still in favor to continue. In Asia, currently, Nikkei is up 0.28%. Hong Kong HSI is up 0.86%. China Shanghai SSE is up 2.01%. Singapore Strait Times is up 0.50%. Japan 10-year JGB yield is up 0.010 at -0.111. Overnight, DOW rose 0.30%. However, it actually closed below open, suggesting temporary topping. S&P 500 rose 0.47%. NASDAQ rose 1.05%. 10-year yield rose 0.059 to 2.143. |
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