 Asian markets open the week with risk-on sentiments, carrying forward the optimism over coronavirus treatment. Dollar and Yen are back under pressure again while Australian Dollar, Euro and Sterling are trading generally higher. Gold also firms up above 1800 handle, riding on Dollar's softness. The economic calendar is rather light today and focuses will be on the three central bank meetings this week, plus loads of important data. Technically, Dollar was rejected by near term resistance level against both Euro and Aussie last week. Attention is back on 1.1370 minor resistance in EUR/USD and 0.7001 minor resistance in AUD/USD. Break will resume recent rebound. Yet, EUR/USD would be close to 1.1422/1496 key resistance zone on next rise. AUD/USD is even closer to 0.7064 high. Thus, upside potential might be limited. On the other hand, there is more room for Gold. Break of 1817.91 temporary top would target 61.8% projection of 1451.16 to 1765.25 from 1670.66 at 1864.76. Upside acceleration in Gold could be a hint on intensified selloff in Dollar elsewhere. In Asia, currently, Nikkei is up 2.06%. Hong Kong HSI is up 1.26%. China Shanghai SSE is up 1.81%. Singapore Strait times is down -0.18%. Japan 10-year JGB yield is up 0.012 at 0.031. |
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