 Dollar turned weaker overnight as markets on talks that Fed could eventually go into negative interest rates. Safe haven flows also continued to recede in generally, with NASDAQ extending recent rebound, even though DOW's rally was still capped. Australian Dollar continues to surge higher, shrugging off RBA's economic projections. Traders have instead welcomed news of the planned three-staged lockdown exit in Australia. Additionally, top US and China officials seemed to have held a positive phone call on trade. Focus will now turn to employment data from US and Canada. Technically, EUR/USD recovers ahead of 1.0727 support, suggesting that consolidation is going to extend further. GBP/USD also recovers ahead of 1.2247 support, without indicating near term bearish reversal. AUD/JPY's break of 68.98 resistance suggests that pull back from 70.16 has completed, maintain near term bullishness to resume rebound form 59.98. With current rebound, Gold's focus is back on 1747.75 high and break will resume larger up trend. In Asia, currently, Nikkei is up 2.14%. Hong Kong HSI is up 0.97%. China Shanghai SSE is up 0.91%. Singapore Strait Times is up 0.12%. Japan 10-year JGB yield is down -0.0001 at 0.001. Overnight, DOW rose 0.89%. S&P 500 rose 1.15%. NASDAQ rose 1.41%. 10-year year yield dropped -0.080 to 0.631. |
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