Risk appetite was firm overnight as NASDAQ made another record high. Yet, Asian markets are rather quietly treading water. New Zealand Dollar tumbles broadly today as dovish RBNZ hints on further easing. There are talks that the central bank would expand asset purchases in August meeting. On the other hand, Aussie is the strongest one for today, followed by Euro. As for the week, Dollar remains the weakest one even though there is no clear follow through selling so far. Technically, Gold's break of 1765.25 resistance indicates up trend resumption. Next target is 61.8% projection of 1451.16 to 1765.25 from 1670.66 at 1864.76. USD/JPY broke 106.57 overnight to resume the fall from 109.85, to 105.98 support and below. USD/CHF is on track to retest 0.9376 low. EUR/USD is eyeing 1.1353 minor resistance. Break will likely resume recent rise from 1.0635 through 1.1422 to take on 1.1496 key resistance. Outlook in Dollar isn't too good for the near term. In Asia, currently, Nikkei is up 0.02%. Hong Kong HSI is up 0.06%. China Shanghai SSE is up 0.15%. Singapore Strait Times is up 0.09%. Japan 10-year JGB yield is up 0.0040 at 0.014. Overnight, DOW rose 0.50%. S&P 500 rose 0.43%. NASDAQ rose 0.74% to 10131.37, new record. 10-year yield rose 0.005 to 0.709. |
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