Dollar retreats mildly in quiet Asian session today, but loss is limited. Some consolidations will likely be seen and further rally in the greenback is still likely to follow. Yen is also slightly softer after worse than expected GDP data. On the other hand, Swiss Franc and Euro are trading mildly higher while Aussie is also recovering. Overall, Asian stocks are treading water, WTI oil is defending 80 handle while Gold is in sideway consolidation. Technically, one focus for the week is whether commodity-yen crosses would finish near term corrective fall and stage rebounds this week. AUD/JPY is defending 55 day EMA and break of 84.16 minor resistance will likely bring stronger rise back to retest 86.24 high. Similarly, break of 91.68 minor resistance in CAD/JPY will suggest completion of pullback from 93.00, and bring retest of this high. In Asia, at the time of writing, Nikkei is up 0.43%. Hong Kong HSI is down -0.08%. China Shanghai SSE is down -0.29%. Singapore Strait Times is up 0.20%. Japan 10-year JGB yield is down -0.0062 at 0.070. |