 Dollar is back in selloff mode again after rebound attempt failed. The broad based trend against the greenback is clear, with gold hitting new record high above 2000 handle. WTI crude oil is also back above 41, pressing 42 handle. Overall risk-on sentiments, with NADSAQ making new record high, is also unfavorable to Dollar. As for today, commodity currencies are the strongest ones, as led by Aussie. Swiss Franc and Yen are following Dollar as next weakest. Technically, USD/CAD's break of 1.3315 short term bottom suggests decline from 1.4667 has finally resumed. Eyes should also be on 42.29 short term top in WTI crude oil. Firm break there could trigger stronger buying and both oil and the Loonie, and prompt more downside acceleration in USD/CAD. As for other dollar pairs, focus is now back on 1.1908 temporary top in EUR/USD, 1.3170 temporary top in GBP/USD and 0.7227 temporary top in AUD/USD. In Asia, Nikkei is currently down -0.24%. Hong Kong HSI is up 0.57%. China Shanghai SSE is up 0.29%. Singapore Strait Times is up 0.68%. Japan 10-year JGB yield is down -0.008 at 0.007. Overnight, DOW rose 0.62%. S&P 500 rose 0.62%. NASDAQ rose 0.35%. 10-year yield dropped notably by -0.048 to 0.515. |
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