Dollar tumbled again overnight after the rather uneventful FOMC rate decision. But selling slowed a little bit in Asian session today. Nevertheless, the greenback remains the worst performer for the week. Commodity currencies are actually not performing well, with New Zealand and Canadian Dollar down against most for the week. Sterling and Euro are the stronger ones, taking turns to be the best performer. Movements in the markets could re-accelerate with busy calendar and heave weight economic data scheduled for today and tomorrow. Technically, Yen crosses would be interest to watch, with clear divergence. On the one hand, both EUR/JPY and GBP/JPY drew notable support from 4 hour 55 EMA and rebounded. Focuses are back on 124.29 and 136.62 temporary tops respectively. Break will extend recent rally. On the other hand, AUD/JPY and CAD/JPY struggles in very tight range above 74.87 and 78.38 temporary lows respectively and look vulnerable. Break of these levels will extend recent decline. We'd probably find out which way is the way for Yen pretty soon. In Asia, currently, Nikkei is down -0.16%. Hong Kong HSI is up 1.05%. China Shanghai SSE is up 0.09%. Singapore Strait Times is down -1.56%. Japan 10-year JGB yield is up 0.0012 at 0.022. Overnight DOW rose 0.61%. S&P 500 rose 1.24%. NASDAQ rose 1.35%. 10-year yield dropped -0.002 to 0.579, staying below 0.6 handle. |
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