Yen and Gold surge today as global sentiments are weighed down by new US sanctions on Iran. In particular, Gold hits as high as 1439 and is currently up more than 1%. Nevertheless, New Zealand Dollar outshines Yen and is currently the strongest one for today. Kiwi is boosted by record exports in May, which solidify the case for RBNZ to stand pat tomorrow. Sterling is the second strongest for now, helped by pull back in EUR/GBP. Technically, a major focus will be on whether Dollar could stage a recovery from the current point. EUR/USD is now close to close to 1.1142 fibonacci projection level, and a retreat is due. While GBP/USD edges higher today, it's feeling heavy ahead of 1.2840 fibonacci resistance. On the other hand, USD/JPY's downside momentum remains solid and could fall further towards 104.69 before trading to bottom. Trade development and Fed Chair Jerome Powell's comment might help decide the direction. In other markets, Nikkei closed down -0.52%. China Shanghai SSE closed down -0.87%. Hong Kong HSI is down -1.19%. Singapore Strait Times is down -0.20%. Japan 10-year JGB yield is up 0.0001 at -0.151. Overnight, DOW rose 0.03%. S&P 500 dropped -0.17%. NASDAQ dropped -0.32%. 10-year yield dropped -0.047 to -2.021. staying above 2% handle. |
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