Markets continue to be rather mixed as investors are awaiting Fed Chair Jerome Powell's speech at the Jackson Hole symposium. S&P 500 and NASDAQ surged strongly overnight to new record highs. But Asian markets are mixed, with weakness seen in Japan, Hong Kong and Singapore. Dollar weakens broadly today but selling is so far not decisive. Yen is trying to extend the rebound that started yesterday. But for now, New Zealand and Australian Dollars are stronger. Technically, USD/CAD will continue to be a focus today as it's pressing 1.3133 support. Break will resume larger fall from 1.4667 to long term fibonacci level at 1.3056, and likely a take on 1.3 handle too. EUR/GBP is another focus as break of 0.8944 support will be a sign of near term bearish reversal, and turn focus to 0.8864 support for confirmation. In Asia, currently, Nikkei is down -0.40%. Hong Kong HSI is down -0.63%. China Shanghai SSE is up 0.29%. Singapore Strait Times is down -0.53%. Japan 10-year JGB yield is down -0.0039 at 0.042. Overnight, DOW rose 0.30%. S&P 500 rose 1.02% to new record at 3478.73. NASDAQ rose 1.73% to new record at 11665.06. 10-year yield rose 0.005 to 0.687. 10-year yield rose 0.005 to 0.687. |
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