 Markets are somewhat staying in risk on mode with US stock indices making new record highs overnight. But upside momentum in Asia markets is relatively weak. Australian and New Zealand Dollars are mildly firmer today, paring some of this week's losses. Meanwhile, Yen and Canadian Dollar are the weaker ones. For the week, Sterling is so far the strongest, followed by Dollar, while Yen and Aussie are weakest. Dollar has a chance to overtake the Pound to close as the best performer, depending on non-farm payrolls report from US. Technically, 109.72 resistance in USD/JPY could be the most important level to watch today. It's reaction to NFP would decide whether Dollar could extend recent rebound attempt. Break of 109.72 will resume whole rise from 104.45. 1.3102 support turned resistance in USD/CAD is another level to watch. Canadian Dollar turned weaker, together with oil price, as Iran risks subsided. Comparative strength of US and Canadian job data should be the factor to determine the next move in USD/CAD. In Asia, Nikkei closed up 0.47%. Hong Kong HSI is up 0.17%. China Shanghai SSE is down -0.08%. Singapore Strait Times is up 0.19%. Japan 10-year JGB yield is down -0.0059 at 0.001, staying positive. Overnight, DOW rose 0.74%. S&P 500 rose 0.67%. NASDAQ rose 0.81%. All three indices closed at record highs. 10-year yield dropped -0.016 to 1.858, after hitting 1.9 handle. |
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