Dollar weakens mildly again as risk appetite is lifted by the three-stage plan to exit lockdown in the US. While Q1 GDP contraction in China was deeper than expected, March data also provided some optimism of return to normal. As Asian markets rebound, Yen and Swiss Franc are following Dollar as the next weakest for today. Commodity currencies are generally higher. Technically, the recovery in the greenback is somewhat disappointing. USD/JPY is back into focus as rejection by 4 hour 55 EMA might drag the pair down to 106.91 support again. Break will resume whole fall from 111.71 and could prompt selling in Dollar elsewhere. Meanwhile, AUD/USD already drew some support from 4 hour 55 EMA to recovery. Focus is back on 0.6444 temporary top. Break will resume whole rebound from 0.5506. In Asia, currently, Nikkei is up 2.62%. Hong Kong HSI is up 2.31%. China Shanghai SSE is up 0.89%. Singapore Strait Times is up 1.31%. Japan 10-year JGB yield is up 0.0013 at 0.008. Overnight, DOW rose 0.14%. S&P 500 rose 0.58%. NASDAQ rose 1.66%. 10-year yield dropped -0.029 to 0.609. |
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