Yen and Swiss Franc are trading as the weakest ones for the week so far, partly due to the strong rebound in stock markets overnight. Sterling is following as the next worst performing as traders continue to price in Brexit uncertainties. Yet, it's unsure which currency is benefiting most from the current developments. Dollar, Euro and Aussie are bounded in tight range against each other. Investors are probably waiting for more inspirations from the heavy weight economic data like ISMs and NFP. Technically, USD/JPY's break of 107.64 minor resistance suggests short term bottoming at 106.07. Further rise is mildly in favor back to 109.85 resistance. EUR/JPY is kept well below 122.11 minor resistance and thus, there is no confirmation of completion of correction from 124.43 yet. Meanwhile, EUR/USD is also in range of 1.1168/1348, staying neural with risk on the downside. The interplay of these three pairs will be worth a watch today. In Asia, Nikkei closed up 1.33%. Hong Kong HSI is up 0.54%. China Shanghai SSE is up 0.84%. Singapore Strait Times is up 1.01%. Japan 10-year JGB yield is up 0.0105 at 0.027. Overnight, DOW rose 2.32%. S&P 500 rose 1.47%. NASDAQ rose 1.20%. 10-year yield closed flat at 0.636. |
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