 Australian Dollar tumbles broadly today and it's trading as the weakest one so far. The decline partly follows worse than expected Q2 GDP data, and partly as profit taking on recent strong rise. Selloff against New Zealand Dollar the latter to be the strongest one. On the other hand, Dollar also recovers in general, digesting recent steep losses. Traders also turn cautious ahead of more important data from the US, with ADP private employment today, ISM services tomorrow, and non-farm payrolls on Friday. Technically, as for Dollar, current recovery is seen generally as a corrective move for the moment. At least, breaks of 0.9161 resistance in USD/CHF, 1.1325 resistance in USD/CAD and 1.1762 support in EUR/USD are needed to be the first signs of short term bottoming. EUR/CAD's rejection by 1.5646 resistance gives a bit a favor to Dollar against Euro. We'll also see if EUR/CAD would break through 1.5469 to resume the corrective decline from 1.5978. In Asia, currently, Nikkei is up 0.21%. Hong Kong HSI is down -0.46%. China Shanghai SSE is down -0.34%. Singapore Strait Times is down -0.37%. Japan 10-year JGB yield is down -0.0030 at 0.042. Overnight, DOW rose 0.76%, still on track to test 29568.57 record high. S&P 500 rose 0.75% to 3526.65 record. NASDAQ also rose 1.39% to 11939.66 record. 10-year yield dropped -0.021 to 0.672. |
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