Markets are steadily mixed in Asian session today. US stocks rose notably overnight but major indices actually closed below Tuesday's highs. No apparent follow through risk-on in seen in Asia too. Overall, Yen and Dollar remain the weakest ones for the week. Australian Dollar leads commodity currencies higher. Major focuses will turn to OPEC++ meeting today regarding production cut. Canadian Dollar will face additional test from March job data. Technically, AUD/USD's breach of 0.6213 resistance suggests resumption of whole rebound from 0.5506. Further rise is in favor to 0.6416 projection level for the near term. More importantly, EUR/AUD also breaks 1.7504 fibonacci support with yesterday's decline. Sustained trading below level could open up deeper fall back to 1.6085 support. We'll see if EUR/AUD could rebound quickly from current level to save near term bullishness. In Asia, currently, Nikkei is down -0.47%. Hong Kong HSI is up 0.66%. China Shanghai SSE is up 0.47%. Singapore Strait Times is up 1.36%. Japan 10-year JGB yield is down -0.0107 at 0.006. Overnight, DOW rose 3.44%. S&P 500 rose 3.41%. NASDAQ rose 2.58%. 10-year yield rose 0.028 to 0.764. |
No comments:
Post a Comment