 Dollar turns mixed in Asian session today but remains the strongest one for the week. Recent economic data from US, including yesterday's durable goods orders, have been solid, and raised some doubts on the need for Fed easing. Sterling is currently the second strongest for the week, followed by Euro. The common currency was lifted yesterday as ECB President Mario Draghi sounded less dovish than expected in the post meeting press conference. But the central is still generally expected to ease policy in September. For now, Australian and New Zealand Dollars are the weakest ones. Technically, USD/CHF's breach of 0.9908 minor resistance suggests that pull back from 0.9951 has completed at 0.9803. Rebound from 0.9695 would probably extend through 0.9951 resistance. That's another indication in Dollar strength, in line with outlook in USD/JPY, USD/CAD and AUD/USD. However, EUR/USD and GBP/USD are both drawing support from key level of 1.1107 and 1.2391. Whether Dollar can push through these two key resistance levels is important to determine the underlying momentum. In Asia, Nikkei is down -0.56%. Hong Kong HSI is down -0.49%. China Shanghai SSE is down -0.11%. Singapore Strait Times is down -0.81%. Japan 10-year JGB yield is up 0.0008 at -0.149. Overnight, DOW dropped -0.47%. S&P 500 dropped -0.53%. NASDAQ dropped -1.00%. 10-year yield rose 0.024 to 2.074. |
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