 The markets turn into mild risk-off mode in Asia, after US President Donald Trump stepped up the tech war with China, by banning TikTok and WeChat. Commodity currencies are generally lower as lead by Australian Dollar. On the other hand, Dollar and Yen strengthen broadly. Nevertheless, for the week, the greenback is still the worst performing one. It will look into today's non-farm payrolls report for some needed strengthen for rebound. Yet, disappointment is probably more likely then not. Technically, Dollar's rebound is not troubling Gold's rally for now. as it edged higher to new record of 2075 earlier today. Upside momentum is diminishing mildly as seen in 4 hour MACD. But as long as 2028.34 minor support holds, Gold is still on track to 161.8% projection of 1451.16 to 1747.75 from 1670.66 at 2150.54. EUR/USD failed to sustain above 1.1908 and it's probably extending the consolidation from there with another falling leg. But as long as 1.1695 support holds, further rally expected. However, break of 1.1695 will suggest short term topping and bring near term reversal. Reactions to NFP would decide the next move. In Asia, Nikkei closed down -0.39%. Hong Kong HSI is down -1.69%. China Shanghai SSE is down -0.67%. Singapore Strait Times is down -0.64%. Japan 10-year JGB yield is down -0.0063 at 0.013. Overnight, DOW rose 0.68%. S&P 500 rose 0.64%. NASDAQ rose 1.00% to 11108.07, another record. 10-year yield dropped -0.007 to 0.536. |
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