 Investors seemed to have put last week's selloff in stocks behind already. Asian markets, except Japan, trade generally higher following the rebound in the US overnight. Additional, upside surprises in data from China boost optimism that it's back on track for stronger rebound for the rest of the year. In the currency markets, Australian Dollar is leading other commodity currencies higher today. Dollar is the worst performing one, followed by Yen. Technically, though, most major pairs and crosses are still range bound. A focus is on whether Sterling could reverse from the current levels. But 1.3035 minor resistance in EUR/USD, 138.38 minor resistance in GBP/JPY and 0.9067 minor support in EUR/GBP need to be taken out first. Gold is another focus as it's pressing an triangle trend line resistance. Break there could bring stronger rebound back to 2000 handle and above. In Asia, currently, Nikkei closed down -0.44%. Hong Kong HSI is up 0.44%. China Shanghai SSE is up 0.39%. Singapore Strait Times is up 0.46%. Japan 10-year JGB yield is down -0.0049 at 0.016. Overnight, DOW rose 1.18%. S&P 500 rose 1.27%. NASDAQ rose 1.87%. 10-year yield rose 0.002 to 0.671. |
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