Asian markets opened higher earlier today, following another day of strong rebound in the US overnight. But buying lost momentum entering into European session. Australian Dollar is currently the strongest one for today as RBA minutes indicates the central bank will stand pat in September first. New Zealand Dollar follows as second strongest, and then Yen. Sterling is the weakest one as last week's corrective recovery lost momentum. Dollar and Euro are currently following as next weakest. Change in risk sentiments ahead could set another tone for the markets. Technically, despite today's recovery, AUD/USD is held below 0.6822 minor resistance and intraday bias remains neutral. Break of 0.6677 low is expected sooner or later to recent recent down trend. USD/CAD is eyeing 1.3345 resistance again after drawing support from 4 hour 55 EMA and rebounded. Break will resume the choppy rise from 1.3016 to 1.3432/3564 resistance zone. GBP/USD and GBP/JPY will continue to be focuses today. Corrective recoveries from 1.2014 and 126.54 started to lose momentum. Retest of these temporary lows could be seen soon. In Asia, Nikkei rose 0.55%. Hong Kong HSI is down -0.20%. China Shanghai SSE is down -0.21%. Singapore Strait Times is up 0.22%. Japan 10-year JGB yield is down -0.0005 at -0.235. Overnight, DOW rose 0.96%. S&P 500 rose 1.21%. NASDAQ rose 1.35%. 10-year yield rose 0.059 to 1.597. 30-year yield rose 0.085 to 2.085. |
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