Dollar recovers mildly in general as recent selloff is losing some momentum. The recovery is also accompanied by mild retreat in Euro as well as some weakness in Gold. Though, the strength of Dollar's recovery is far from being strong enough to warrant short term bottoming yet. As for today, Swiss Franc and Yen are also among the stronger ones with Dollar. Australian Dollar and Sterling are the weaker ones for now. Markets would now be looking at today's ECB meeting, as well ass tomorrow's US non-farm payrolls for more guidance. Technically, EUR/CHF is now pressing 1.0811 key resistance, which could determine which medium bearishness would be retained or broken. EUR/GBP recovered after breaching 0.8880 minor support but looks vulnerable. Break of 0.8880 again will indicate completion of recent rebound. EUR/CAD's recovery faced some resistance from 4 hour 55 EMA. Rejection from there could bring another decline that sends EUR/CAD through 1.5054 support. We'll probably know which way Euro is heading towards very soon. In Asia, currently, Nikkei is up 0.07%. Hong Kong HSI is down -0.11%. China Shanghai SSE is down -0.21%. Singapore Strait Times is down -0.02%. Japan 10-year JGB yield is up 0.0190 at 0.033. Overnight, DOW rose 2.05%. S&P 500 rose 1.36%. NASDAQ rose 0.78%. 10-year yield rose 0.081 to 0.761. |
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