Sentiments remain generally cautious in Asian session today. Major indices are mixed following slight weakness in US stocks overnight. The Pound failed to break through near term resistance against Dollar for the second time and retreated. Euro's rebound against Dollar also lost momentum. Canadian Dollar recovered after BoC Governor Stephen Poloz said monetary policy was "about right". But there is no clear directions in the forex markets overall. Focus will turn to PMI data from Eurozone, UK and US, as well as Canada retail sales for guidance. Technically, EUR/USD is now pressing 1.1053 minor support as rebound from 1.0989 lost momentum. Break of 1.1053 will suggest completion of the rebound and bring retest of 1.0989. AUD/USD is crawling back to 0.6769. Break there will downside acceleration will resume the fall from 0.6929 to 0.6670 low. USD/CAD is retreating mildly but further rise is expected with 1.3190 support intact, for 1.3347/82 resistance zone. In Asia, Nikkei is up 0.35%. Hong Kong HSI is up 0.26%. China Shanghai SSE is down -0.59%. Singapore Strait Times is up 0.52%. Japan 10-year JGB yield rose 0.0293 to -0.081. Overnight, DOW dropped -0.20%. S&P 500 dropped -0.16%. NASDAQ dropped -0.24%. 10-year yield rose 0.034 to 1.772. |
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