Sentiments continue to be relatively stable in Asian session today. Hong Kong stocks are back from holiday and tumble sharply. But Nikkei and Singapore Strait times are having mild recovery. Gold is back below 1570 level and WTI crude oil is back at 54. In the currency markets, Australian Dollar is limited slightly by CPI data. Yen and Dollar are also currently firm. New Zealand Dollar, on the other hand, is the weakest, followed by Swiss Franc. Ongoing development of the coronavirus outbreak in China will remain the most important factor to watch. Fed's rate decision could take a back seat. Technically, Swiss Franc could be a currency to watch today. USD/CHF is extending the recovery from 0.9613 but outlook stays bearish as long as 0.9762 resistance holds. Similarly, EUR/CHF is in the recovery from 1.0665 but outlook also stays bearish as long as 1.0788 resistance holds. However, decisive break of these two levels will indicate short term topping in the Franc in general and bring deeper pull back. In Asia, Nikkei closed up 0.71%. Hong Kong HSI is down -2.68%. Singapore Strait Times is up 0.09%. Japan 10-year yield is up 0.0020 at -0.035. Overnight, DOW rose 0.66%. S&P 500 rose 1.01%. NASDAQ rose 1.43%. 10-year yield rose 0.036 to 1.641. |
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