 Dollar and Yen remain the overwhelmingly weakest ones for the week even though risk appetite seems to be taking a breather again. In particular, the greenback suffered steep selling after Euro bulls cheered ECB's PEPP expansion. The common currency is one of the strongest one this week, just next to Kiwi and Aussie. Non-farm payroll report from the US is the next focus. But it's unlikely to give Dollar any strength for a rebound. Technically, EUR/CHF's break of 1.0811 key resistance again is worth a mention. A weekly close above the level, as well 55 week EMA, would be another solid sign of medium term strength in Euro. Further rally in EUR/CHF, towards 1.1059 key cluster resistance, could take Euro higher elsewhere. While commodity currencies have been strong, both Aussie and Canadian are losing some momentum. 0.6856 minor support in AUD/USD and 1.3572 minor resistance in USD/CAD would be watched for sign of a near term pull back In Asia, currently, Nikkei is up 0.08%. Hong Kong HSI is down -0.03%. China Shanghai SSE is down -0.26%. Singapore Strait Times is up 0.34%. Japan 10-year JGB yield is up 0.009 at 0.039. Overnight, DOW rose 0.05%. S&P 500 dropped -0.34%. NASDAQ dropped -0.69%. 10-year yield rose 0.059 to 0.820. |
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