 Dollar stays firm as recovery continues while Yen is following as the second strongest. While US stocks continued their record run overnight, Asian markets are generally in red outside of Japan. As for today, Euro is currently the worst performing, followed by Sterling, and then Australian Dollar. Focuses will turn to ISM non-manufacturing from US today, and more importantly, non-farm payrolls tomorrow. Technically, Gold's break of 4 hour 55 EMA suggests that the recovery from 1902.73 has completed. Consolidation from 2075.18 is extending with another falling leg to 1902.73 support, and likely below. Such development would be supportive to the greenback. Still, we'd prefer to see, at least, solid break of 1.1762 support in EUR/USD, as well as 0.9161 resistance in USD/CHF to confirm that a genuine rebound in the greenback is underway. In Asia, Nikkei closed up 0.94%. Hong Kong HSI is down -0.57%. China Shanghai SSE is down -0.67%. Singapore Strait Times is down -0.63%. Japan 10-year JGB yield is down -0.0084 at 0.037. Overnight, DOW rose 454.84 pts or 1.59% to 29100.50. 29568.57 record high is now within reach. S&P 500 rose 1.54% to 3580.84, record. NASDAQ rose 0.98% to 12056.44, also record. 10-year yield dropped -0.021 to 0.651. |
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