 Dollar and Yen recover mildly today as risk appetite somewhat lost steam again. Australian and New Zealand Dollar turn softer. The pattern of risk-on risk-off is rather common in corrective markets. There are signs of improvements regarding the coronavirus pandemic. But with over 2 millions accumulated infections and 126k deaths, the road to recovery is still long. UK became the sixth country with cases surpassing China. Eyes are also on Turkey, Russia and Brazil, which might have the spread worsening. Technically, USD/JPY is now pressing 106.91 support. Break will resuming the decline from 111.71 towards 104.58 projection level next. WTI crude oil softens mildly and took out 4 hour 55 EMA. That's a sign that corrective recovery from 20.40 has completed and deeper fall could be seen. If that happens, risk off will have a come back lifting safe haven currencies. This time, based on USD/JPY's development, the Yen might have an upper hand over Dollar. In Asia, currently, Nikkei is down -0.42%. Hong Kong HSI is down -0.36%. China Shanghai SSE is down -0.19%. Singapore Strait Times is down -0.07%. Japan 10-year JGB yield is up 0.0058 at 0.022. Overnight, DOW rose 2.39%. S&P 500 rose 3.06%. NASDAQ rose 3.95%. 10-year yield rose 0.003 to 0.752. | 
No comments:
Post a Comment