Asian markets strengthen generally as investors put Hong Kong tensions behind for the moment. Sentiments are also somewhat lifted as PBoC pledged to continue with targeted easing measures. Commodity currencies are generally higher as led by New Zealand Dollar for now. Yen and Dollar are the weakest ones, followed by Swiss Franc. Some more volatility would likely be seen as UK and US are back from holiday. Technically, EUR/USD, EUR/JPY and EUR/CHF recover after drawing support from 4 hour 55 EMA, keeping favor on more near term upside. However, EUR/AUD is now back pressing key support zone of 1.6538/6597. Sustained break there will carry larger bearish implication and would target 1.5962.6085 support zone next. If that happens, it would likely be more of an indication of Aussie strength, than Euro weakness. We might probably see AUD/USD break through 0.6618 temporary top to take on key resistance level at 0.6670 in accordance. In Asia, currently, Nikkei is up 2.34%. Hong Kong HSI is up 1.90%. China Shanghai SSE is up 0.71%. Singapore Strait Times is up 1.40%. Japan 10-year JGB yield is down -0.0042 at 0.001. |
No comments:
Post a Comment