Markets are starting another with rather quiet mood. Some economic data might be not as bad as expected, but they're giving no lift to sentiments. Dollar attempted for a rebound overnight but there was apparently no follow through buying. Gold's dip was a positive sign for the greenback but there was no follow through selling too. At the momentum, Swiss Franc and Dollar are the relatively stronger ones for today. Canadian, Australian and Sterling are there weakest. But major pairs and crosses are just staying inside yesterday's tight range. Technically, Yen crosses are showing sign of weakness in general. A focus will be on 106.75 support in USD/JPY. Break will indicate completion of the rebound from 101.18 and bring deeper fall back towards this low. It remains to be seen, if that happens, whether Dollar would be dragged down elsewhere. After yesterday's decline, gold's focus remains on 1558 support to confirm completion of rebound from 1451.16. In Asia, currently, Nikkei is down -1.75%. Hong Kong HSI is down -0.92%. China Shanghai SSE is up 0.30%. Singapore Strait Times is down -1.27%. Japan 10-year JGB yield is down -0.007 at 0.011. Overnight, DOW dropped -1.84%. S&P 500 dropped -1.60%. NASDAQ dropped -0.95%. 10-year yield rose 0.028 to 0.698. |
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