Yen trades mildly lower today, as Asian markets recover despite the steep fall in US overnight. Swiss Franc and Dollar are also soft. On the other hand, commodity currencies are all recovering mildly, but momentum is weak. Overall, the forex markets are still hesitating to break out from recent range, with the exception of Canadian Dollar. The Loonie will now look ahead to retail sales for the next movement. Technically, we're continue to wait for breakouts in some Dollar and Yen pairs patiently. The levels to watch include 1.1185/1382 in EUR/USD, 1.3158/3373 in GBP/USD, 0.9156/9293 in USD/CHF, 127.36/129.82 in EUR/JPY and 148.94/152.60 in GBP/JPY. In Asia, Nikkei closed up 2.08%. Hong Kong HSI is up 1.03%. China Shanghai SSE is up 0.88%. Singapore Strait Times is up 0.47%. Japan 10-year JGB yield is up 0.0157 at 0.055. Overnight, DOW dropped -1.23%. S&P 500 dropped -1.14%. NASDAQ dropped -1.24%. 10-year yield rose 0.017 to 1.419. |
