Market sentiments were given another strong lift after both US and China offered gestures of good will ahead of next month's trade meeting. Yen extended this week's pullback and remains generally soft in Asian session today. Swiss Franc follows as the second weakest naturally. Meanwhile, commodity currencies are generally higher on improving risk sentiments. Euro and Dollar are mixed as markets await ECB's stimulus package and US CPI. Technically, Euro pairs will be the major focuses today. EUR/USD is staying in range above 1.0926 despite yesterday's dip. Consolidation might extend but in case of rebound, we'd expect upside to be limited below 1.1164. At the same time, break of 1.0926 will resume medium down trend. EUR/JPY's rebound from 115.86 is still in favor to extend as long as 117.73 minor support holds. But break will turn focus back to 115.86 low. EUR/GBP remains a tricky one. We'd continue to expect strong support from 0.8891 cluster to bring rebound. But decisive break will dampen out bullish view. In Asia, Nikkei is up 0.97%. Hong Kong HSI is down -0.18%. China Shanghai SSE is up 0.32%. Singapore Strait Times is down -0.33%. Japan 10-year JGB yield is up 0.0023 to -0.204. Overnight, DOW rose 0.85%. S&P 500 rose 0.72%. NASDAQ rose 1.06%. 10-year yield rose 0.031 to 1.733. 30-year yield rose 0.026 to 2.208. |
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