 Markets turn into consolidative mode today as Dollar, Yen and Swiss Franc pare back some gains. Commodity currencies, on the other hand, are generally higher. Traders are taking some profits ahead of weekly close. Nevertheless, over the week, New Zealand Dollar is the strongest ones after RBNZ's surprise hold. Swiss Franc, Yen are firmer on risk aversion in Asian and Europe. Sterling is very resilient, or more so indifferent to all developments. Aussie and Canadian are among the weakest. Technically, USD/CAD's rebound lost momentum after hitting 1.3270 and turned into consolidations. Further rise is still in favor as long as 1.3159 support holds, for 1.3347/82 resistance zone. EUR/USD also formed a temporary low at 1.0989 and turned into consolidation. But further fall is expected as long as 1.1073 resistance holds, for 1.0879 low. In Asia, Nikkei closed up 0.70%. Hong Kong HSI is up 0.18%,. China Shanghai SSE is down -0.23%. Singapore Strait Times is up 0.04%. Japan 10-year JGB yield is down -0.0010 at -0.073. |
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