Canadian and Australian Dollar trade generally higher today, following mild strength in Asian stocks. But New Zealand Dollar diverges from them as the country extends lockdown of Auckland until Sunday night. Following Kiwi, Swiss Franc and Yen are the next weakest in risk-on markets. Dollar is mixed and could stay so until Fed Chair Jerome Powell's Jackson Hole speech later in the week. Technically, while Yen turns slightly softer today, there is no clear sign of completing last week's rebound yet. NZD/JPY's decline from 71.67 is still in progress for 68.10 support. Eyes will also be on 124.31 support in EUR/JPY and 137.84 support in GBP/JPY. Break there will confirm topping in both crosses and pave the way for deeper correction lower. 1.0739 support in EUR/CHF will also be watched and break will indicate completion of recent rebound from 1.0602, and bring retest of this support. In Asia, currently, Nikkei is up 0.26%. Hong Kong HSI is up 1.41%. China Shanghai SSE is up 0.18%. Singapore Strait Times is up 0.23%. Japan 10-year JGB yield is down -0.0096 at 0.026. |
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