 Gold and oil price strengthen notably in otherwise rather mixed markets. US stocks reversed initial losses overnight and closed higher. Asian markets also follow and are trading up slightly. In the currency markets, Canadian Dollar is currently the strongest one for today, thanks to oil price. Sterling and Yen are the weakest ones. For the week, though, Dollar remains the strongest, followed by Swiss Franc. New Zealand, Australian Dollar and Sterling are the worst performing ones. Technically, Dollar's rally attempt couldn't sustain so far. Range trading in EUR/USD, AUD/USD, USD/CHF and USD/CAD would likely stay in established range before weekly close. USD/JPY is probably one exception as it recovered after drawing support form 4 hour 55EMA. Focus is back on 107.76 resistance. Break will reaffirm the case that corrective fall from 111.71 has completed and bring further rise to 109.38. In Asia, currently, Nikkei is up 0.63%. Hong Kong HSI is up 0.56%. China Shanghai SSE is up 0.32%. Singapore Strait Times is up 0.34%. Japan 10-year JGB yield is up 0.0027 at -0.002. Overnight, DOW rose 1.62%. S&P 500 rose 1.15%. NASDAQ rose 0.91%. 10-year yield dropped -0.030 to 0.619. |
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