Dollar's selloff resumes in Asian session today, while Yen is also trading lower. Risk-on markets in Asia lift New Zealand and Australian Dollar. European majors are mixed for the moment, with Euro trying to recover against Sterling and Swiss Franc. The economic calendar is rather light today, and focuses will mainly be on the development in overall market sentiments, as well as comments from Fed officials later in the day. Technically, EUR/USD's breach of 1.1639 minor resistance suggests short term bottoming at 1.1523 already, which suggests more downside in Dollar in general. We'd now keep an eye on Gold too. While the retreat from 1800.37 might have disappointed some Gold bulls, it's resiliently holding on to 4 hour 55 EMA, which maintains the chance of further rally. Break of 1800.37 will resume the rebound from 1721.46 towards 1833.79 key near term resistance. Such development would at least confirm Dollar's weakness for the near term. In Asia, at the time of writing, Nikkei is up 0.65%. Hong Kong HSI is up 1.49%. China Shanghai SSE is up 0.63%. Singapore Strait Times is up 0.50%. Japan 10-year JGB yield is down -0.0050 at 0.091. Overnight, DOW dropped -0.10%. S&P 500 rose 0.34%. NASDAQ rose 0.84%. 10-year yield rose 0.008 to 1.584, after reversing much of earlier gains to 1.627. |
