Dollar rebounds broadly as markets turned into risk-off mode overnight. It remains firm in quiet trading in Asia, with China and Hong Kong on holiday. The movements in the forex markets are not decisive enough yet. Major pairs and crosses are back inside last week's range. Job and durable goods data from US today might trigger some volatility. But traders could take more time to gauge the odds and severity of coronavirus second wave before taking some commitments. Technically, it's still early to tell if Dollar could sustain and extend the current rebound. The levels to watch include 1.1168 support in EUR/USD, 1.2334 support in GBP/USD, 0.6776 support in AUD/USD, 0.9554 resistance in USD/CHF, 107.64 resistance in USD/JPY and 1.3686 resistance in USD/CAD. In Asia, currently, Nikkei is down -1.33%. Japan 10-year JGB yield is down -0.0068 at 0.010. Singapore Strait Times is down -1.07%. Hong Kong and China are on holiday. Overnight, DOW dropped -2.72%. S&P 500 dropped -2.59%. NASDAQ dropped -2.19%. 10-year yield dropped -0.025 to 0.684. |
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