 US stocks suffered the worst start to a quarter in history overnight. But Asian markets are generally steady after initial weakness. Other markets are generally stuck in familiar range. Dollar and Yen remain the strongest one for the week but there is still no clear follow through buying. Oil price is also gyrating in a tight range despite the surge in inventories. Traders seem to be waiting for tomorrow's non-farm payroll reports before taking the next move. Though, today's jobless claims might trigger some more volatility too. Technically, there is no breakthrough development so far. Dollar could have bottomed against both Euro and Swiss but the recoveries are weak. Gold's reaction to 1558 support will continue to be seen as a test on the genuine strength in Dollar's rebound. Also, 106.75 support in USD/JPY will eventually decide whether Dollar or Yen will take the lead for the next move. In Asia, currently, Nikkei is down -0.67%. Hong Kong HSI is down -0.09%. China Shanghai SSE is up 0.33%. Singapore Strait Times is down -0.93%. Japan 10-year JGB yield is down -0.018 at -0.011. Overnight, DOW dropped -4.44%. S&P 500 dropped -4.41%. NASDAQ dropped -4.41%. 10-year yield dropped -0.063 to 0.635. | 
No comments:
Post a Comment