 Asian markets trade broadly higher on increasing "optimism" regarding US-China trade war. Some form of agreement is anticipated out of the Trump-Xi summit on Saturday to avoid further tariff escalation. Yen and Swiss France are trading as the weakest one for more, followed by Euro. Australian and New Zealand Dollar are the strongest one, followed by Dollar. Canadian Dollar jumped overnight following surge in oil prices. There is prospect of more strengthen in Loonie ahead. Technically, there is no change in the outlook in Dollar yet, despite current recovery. The greenback might at least need to wait until tomorrow's PCE inflation before taking the next move. 1.1317 support in EUR/USD, 1.2642 support in GBP/USD, 0.9854 in USD/CHF and 108.80 resistance in USD/JPY have to be taken out to confirm that Dollar is reversing. Otherwise, risks will stay on the downside for the greenback. In Asia, currently, Nikkei is up 0.93%. Hong Kong HSI is up 1.00%. China Shanghai SSE is up 0.76%. Singapore Strait Times is up 0.63%. Japan 10-year JGB yield is up 0.0055 at -0.141. Overnight, DOW dropped -0.04%. S&P 500 dropped -0.12%. NASDAQ rose 0.32%. 10-year yield rose 0.0055 to 2.49, well above 2.0 handle |
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