 Dollar recovers mildly today as US markets will be back from holiday. But understandably, upside momentum is rather weak so far as the crucial non-farm payroll report is awaited. Overall trading is mixed this week, as some technical level are not firmly take out, even breached. For example, Gold is staying in consolidation below 1439.23, despite the rally attempt earlier. Traders could finally make up their mind after today's job data. But for now, it seems that traders would still expect a Fed cut in July even if we'll get some strong data today. Risks for the greenback are skewed to the downside. Technically, some more upside is mildly in favor in Dollar against European majors. But break of 1.1344 minor resistance in EUR/USD, 1.2645 minor resistance in GBP/USD and 0.9809 minor support in USD/CHF could indicate return of Dollar selloff. Similarly, break of 107.53 minor support in USD/JPY could suggest return of Yen's rally, and prompt selloff in EUR/JPY and GBP/JPY too. These are the levels to watch today. In Asia, Nikkei closed up 0.11%. Hong Kong HSI is up 0.14%. China Shanghai SSE rose 0.17%. Singapore Strait Times is down -0.27%. Japan 10-year JGB yield is down -0.0072 at -0.163. |
No comments:
Post a Comment