Dollar turns slightly softer, broadly, as Middle East tensions escalated after Iran's strike against US forces in Iraq. But loss is so far limited after President Donald Trump's refrained response. Markets generally calmed down for now, awaiting Trump's statement later in US morning. Yen and Canadian Dollar are the strongest ones as supported by risk aversion and strength in oil prices. WTI crude oil hit as high as 65.38 while Gold breaks 1600 handle. Technically, gold is on track to 1625 projection level but we'd looking for topping signal there. WTI crude oil continues to feel heavy inside 63.04/66.49 resistance zone, which we expect to hold. USD/JPY spiked lower to 107.65 but quickly recovered. As long as 107.65 holds, we'd expect another rebound to retest 109.27 resistance after situation stabilizes. In Asia, Nikkei is currently down -1.25%. Hong Kong HSI is down -0.76%. China Shanghai SSE is down -0.57%. Singapore Strait Times is down -0.81%. Japan 10-year JGB yield is up 0.0078 at -0.002. Overnight, DOW dropped -0.42%. S&P 500 dropped -0.28%. NASDAQ dropped just -0.03%. 10-year yield rose 0.016 to 1.827. |
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