Yen and Swiss Franc are back in driving seats, together with Dollar. US stocks hit new record highs overnight reversed to closed lower. Asian markets follow and trade broadly lower. While there is no "concrete" good news regarding US-China trade deal, political tensions between the two super power intensified after Senate passed a bill that backs Hong Kong's defense of its autonomy. Commodity currencies are under pressured with Canadian Dollar additionally weighed down by comments from a top BoC official. Technically, USD/CAD's rise from 1.3042 resumes by taking out 1.3270 temporary top. it's now heading to 1.3347/82 resistance zone. Rebounds in EUR/USD and EUR/JPY are both losing upside momentum. We'll see if they're finished. GBP/JPY is also heading back to 139.36 minor support after failing to sustain above 141.50 resistance. Break of 139.36 should indicate confirm short term topping and bring deeper pull back. In Asia, Nikkei closed down -0.62%. Hong Kong HSI is down -0.72%. China Shanghai SSE is down -0.77%. Singapore Strait Times is down -0.26%. Japan 10-year JGB yield is down -0.0162 at -0.106. Overnight, DOW dropped -0.36%. S&P 500 dropped -0.06%. NASDAQ rose 0.24%. 10-year yield dropped -0.022 to 1.786, lost 1.8 handle. |
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