Dollar is back trading as the weakest one for the week as it's earlier rally attempt faded quickly. Though, Euro and Swiss Franc are not too far behind as the next weakest. Yen is also paring some of this week's gain but remains generally firm. New Zealand Dollar is surprisingly the strongest one for the weak so far. Sterling is the second strongest as it quickly pared back post BoE losses. Overall, there is no clearly commitment in a direction in the forex markets. Technically, NASDAQ is worth a watch today as it's back pressing this week's low after the -1.27% decline overnight. Further fall could sent the index firmly through 55 day EMA. That could confirm the start of a correction to rise from 6631.42 to 12074.06, and target 38.2% retracement at 9994.97, which is close to 10000 handle. That might result in further decline in Yen pairs in generally. In particular, that might finally drag USD/JPY through 104.18 low. In Asia, Nikkei is up 0.17%. Hong Kong HSI is up 0.47%. China Shanghai SSE is up 1.44%. Singapore Strait Times is down -0.10%. Japan 10-year JGB yield is down -0.0031 at 0.011. Overnight, DOW dropped -0.47%. S&P 500 dropped -0.84%. NASDAQ dropped -1.27%. 10-year yield dropped -0.003 at 0.684. |
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