Overall markets continue to be rather mixed for now. Commodity currencies rally in Asian session, as led by Aussie, following rebound in the stock markets. On the other hand, Dollar is turning softer again, together with Yen. Euro's weakness is the more persistent development this week, in particular against other European majors. Trading today might remain non-committal, as the markets are looking forward to tomorrow's non-farm payroll report. Technically, EUR/AUD's break of 1.5898 support now suggests that choppy rebound from 1.5250 has completed at 1.6434. Near term outlook is turned bearish for retesting 1.5250 low. EUR/GBP's breach of 0.8499 support is a bearish signal and sustained trading below there will pave the way back to 0.8448 low. EUR/CHF would be a focus in the next few days and break of 1.0694 support will resume the whole down trend from 1.1149. If that happens, Euro's decline could accelerate elsewhere. In Asia, at the time of writing, Nikkei is up 0.81%. Hong Kong HSI is up 2.41%. Singapore Strait Times is up 0.92%. Japan 10-year JGB yield is down -0.0058 at 0.079. China is still on holiday. Overnight, DOW rose 0.30%. S&P 500 rose 0.41%. NASDAQ rose 0.47%.10-year yield dropped -0.005 to 1.524. |
