The overall markets remain rather mixed so far. Rebound in US stocks overnight didn't carry forward to Asian session. Nikkei is weighed down by poor Tankan survey data. Dollar's rally attempt was somewhat knocked down by up trend resumption in Gold. Recovery in oil prices also dragged down the greenback and lifted Canadian. Focus will now turn to US ADP employment and ISM manufacturing, as well as tomorrow's NFP. Hopefully, these data could trigger some meaningful breakouts in the markets. Technically, Gold's break of 1779.16 indicates up trend resumption for 61.8% projection of 1451.16 to 1765.25 from 1670.66 at 1864.76. A focus now is how EUR/USD would follow, by breaking 1.1168 support, or 1.1348 minor resistance. EUR/GBP's break of 0.9079 minor support suggests resistance from 0.9182 fibonacci level. GBP//USD's breach of 1.2389 minor resistance also suggests temporary bottoming. But GBP/JPY's recovery was rejected by 113.98 minor resistance. It remains to be seen in the Pound could stage a sustainable rebound. In Asia, currently, Nikkei is down -0.21%. China Shanghai SSE is up 0.91%. Singapore Strait Times is up 0.96%. Hong Kong is on holiday. Japan 10-year JGB yield is up 0.018 at 0.051. Overnight, DOW rose 0.85%. S&P 500 rose 1.54%. NASDAQ rose 1.87%. 10-year yield rose 0.017 to 0.654. |
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