The forex markets are generally steady in Asian session today. Trading is rather subdued with US markets on holiday. But volatility will definitely come back with job data tomorrow. For the week, Canadian Dollar is currently the strongest one but USD/CAD is still struggling take out last week's firmly. Australian Dollar is currently the second strongest for now. On other hand, European majors are generally lower, led by Swiss Franc, followed by Sterling then Euro. Technically, AUD/USD's break of 0.7022/34 resistance is tentatively taken as a sign of near term bullish reversal. Further rise is expected as long as 0.6956 support holds, for 0.7205 resistance. USD/CAD is still pressing 1.3052/68 cluster support zone. Firm break there will carry medium term bearish implications. Dollar's rebounds versus Euro, Swiss and Sterling are losing momentum. Some sideway trading is likely for the rest of the day. In Asia, Nikkei closed up 0.27%. Hong Kong HSI is up 0.01%. China Shanghai SSE is down -0.17%. Singapore Strait Times is up 0.23%. Japan 10-year JGB yield is up 0.0013 at -0.155. Overnight, DOW rose 0.67%. S&P 500% rose 0.77%. NASDAQ rose 0.75%. 10-year yield dropped -0.023 to 1.953. |
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