Markets are back in risk off mode in Asia after Apple's warning. While Wuhan coronavirus cases in China might appear to have slowed, investors remain vigilant. More risks lie ahead with German economic sentiment data featured today. For now, commodity currencies are the weakest ones as led by Australian Dollar. Yen and Swiss Franc are the strongest, followed by Dollar. Technically, AUD/USD is staying above 0.6662/70 key support zone despite today's sharp fall. Intraday bias remains neutral for further decline is expected with 0.6774 resistance intact. Firm break of 0.6662/70 to resume larger down trend is expected sooner or later. EUR/USD and EUR/JPY edge lower today and selloff could accelerate on German data. USD/JPY is still staying in tight range of 109.53/110.14. Breakout from the range could reveal the next moves in Dollar and Yen pairs. In Asia, currently, Nikkei is down -1.45%. Hong Kong HSI is down -1.35%. China Shanghai SSE is down -0.39%. Singapore Strait Times is down -0.56%. Japan 10-year JGB yield is down -0.0160 at -0.054. |
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