 Risk appetite continues in Asian session, following record closes in US. Yen and Swiss Franc continue to be broadly pressured. Meanwhile, Australian dollar survived the balanced RBA rate statement and leads other commodity currencies higher. Dollar, Euro and Sterling are mixed, with Dollar having a slight upper hand for the moment. Technically, though, major pairs and crosses are still stuck in consolidation pattern. While Yen crosses are generally higher, USD/JPY is held below 109.31 resistance, EUR/JPY below 121.46, GBP/JPY below 141.50. Even AUD/JPY is also held below 75.29 temporary top. Though, a break of 75.29 in AUD/JPY could indicate more broad based selloff in the Yen. Similarly, EUR/AUD is in range below 1.1179, GBP/USD below 1.3012, AUD/USD below 0.6929. There is no clear sign of breakout yet. Overnight, DOW rose 0.42%. S&P 500 rose 0.37%. NASDAQ rose 0.56%. 10-year yield rose 0.058 to 1.786. In Asia, currently, Nikkei is up 1.95%. Hong Kong HSI is up 0.59%. China Shanghai SSE is up 1.09%, back above 3000 handle. Singapore Strait Times is up 0.49%. Japan 10-year JGB yield is up 0.0364 at -0.143. |
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