Euro strengthens mildly in generally mixed Asian markets today. There is no clear direction as Japan stocks diverge from others while gold and oil are rangebound. Canadian and Australian Dollar are following as the next strongest but movements are limited. Yen and Dollar are trading with an undertone. But New Zealand Dollar is the worst one after Prime Minister Jacinda Ardern postponed the general election by a month to mid-October on coronavirus outbreak. Technically, 1.1916 temporary top is EUR/USD is a focus today and break will resume larger rebound from 1.0635. Correspondingly, GBP/USD could take on 1.3185 resistance while USD/CHF might test 0.9050 support. NZD/USD is also worth a watch as it's starting to lose downside momentum, approaching 55 day EMA. A break of 0.6600 minor resistance would bring recovery. That might give the Kiwi some breathing space after recent broad based decline. In Asia, Nikkei closed down -0.83%. Hong Kong HSI is up 1.19%. China Shanghai SSE is up 2.30%. Singapore Strait Times is down -0.25%. Japan 10-year JGB yield is down -0.0076 at 0.042. |
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