Dollar remains generally pressured today even though selling momentum seems to be easing a little bit. A focus will be on FOMC minutes which is unlikely to provide anything about the next policy move. Instead, investors would be more eager to know how Fed would shape the results of the year-long strategy review. Back in the currency markets, Yen is currently the second weakest, followed by Swiss Franc. New Zealand Dollar, strongest for today, is finally recovery some of recent losses. Technically, Gold is back below 2000 handle after hitting as high as 2015.66 yesterday. Rebound from 1862.55, as the second leg of the consolidation pattern from 2075.18, should have met the minium price movement already. A near term reversal could happen any time and break of 1966.27 support would likely start the third leg back to 1862.55 low. GBP/JPY just drew notable support from 4 hour 55 EMA and rebounded. Focus is back on 140.20 resistance and break will indicate rally resumption. In Asia, Nikkei closed up 0.26%. Hong Kong HSI is down -0.89%. China Shanghai SSE is down -1.29%. Singapore Strait Times is down -0.05%. 10-year JGB yield is down -0.0074 at 0.032. Overnight, DOW dropped -0.24%. S&P 500 rose 0.23% to 3389.78. after hitting new record at 3395.06. NASDAQ rose 0.73% to new record. 10-year yield dropped -0.014 to 0.669. |
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