Asian markets continued to ignore risk rally in US and trade mixed today. Sentiments are mildly weighed down by US-China tensions over Hong Kong. But reactions are so far limited. Euro and Dollar are mildly firmer in Asian session but major pairs and crosses are staying inside yesterday's range. For the week, commodity currencies are the strongest ones so far, led by Canadian. Yen, Dollar and Swiss Franc are the worst on over optimism on economy reopening and coronavirus treatments. Technically, Euro is maintaining gains triggered by yesterday "Next Generation EU" recovery plan. But more is needed to confirm buying momentum. In particular, EUR/GBP is facing 0.9000 temporary top and break will resume the rise from 0.8670 to next fibonacci level at 0.9182. EUR/AUD is also eyeing 1.6763 minor resistance and break will confirm short term bottoming, as well as successful defending of 1.6597 key long term support. EUR/CAD could also attempts for a break of 1.5214 minor resistance and break will bring stronger rebound to 1.5322 resistance. In Asia, currently, Nikkei is up 1.97%. Hong Kong HSI is down -1.24%. China Shanghai SSE is down -0.07%. Singapore Strait Times is down -0.17%. Japan 10-year JGB yield is down -0.0023 at 0. Overnight, DOW rose 2.21%. S&P 500 rose 1.48%. NASDAQ rose 0.77%. 10-year yield dropped -0.018 to 0.680. |
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