Yen and Swiss Franc attempt for rally again today as risk sentiments turned cautious. Dollar is also mildly firmer after FOMC minutes reaffirmed that last month's rate cut was just a mid-cycle adjustment. Though, upside in the greenback is capped so far as Fed Chair Jerome Powell's Jackson Hole tomorrow could turn sentiments again. On the other hand, commodity currencies drop broadly, as led by New Zealand Dollar. Australian Dollar is also pressured after poor PMI data. Technically, there is no breakout from recent consolidative moves yet. Near term outlook in EUR/JPY and GBP/JPY remain bearish for now. Break of 117.51 and 126.54 will resume recent decline. USD/CAD stays in consolidation from 1.3345 despite recent volatility. Further rise through 1.3345 resistance is expected sooner or later. In Asia, Nikkei rose 0.05%. Hong Kong HSI is down -0.93%. China Shanghai SSE is up 0.12%. Singapore Strait Times is up 0.10%. Japan 10-year JGB yield is down -0.0021 at -0.242. Overnight, DOW rose 0.93%. S&P 500 rose 0.82%. NASDAQ rose 0.90%. 10-year yield rose 0.0016 to 1.577. |
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