The forex markets still generally range bound for the moment. Dollar weakened mildly overnight, but stays above near term lows against other major currencies. Similarly, Yen is also bounded in very tight range. US stocks' rebound overnight was as positive development for sentiments. Yet, there is no follow through actions in Asia. Though, volatility might come back later today, depending on Eurozone PMIs. Technically, now attention is back on some Dollar support levels, including 1.2244 temporary top in EUR/USD, 1.4240 resistance in GBP/USD and 0.8959 in USD/CHF. Additionally, eyes are also on 133.42 temporary top in EUR/JPY and 154.80 in GBP/JPY. Break of these levels will indicate the markets back in prior trend of Dollar and Yen selloff. In Asia, at the time of writing, Nikkei is up 0.53%. Hong Kong HSI is down -0.21%. China Shanghai SSE is down -0.45%. Singapore Strait Times is up 0.10%. Japan 10-year JGB yield is down -0.0050 at 0.079. Overnight, DOW rose 0.55%. S&P 500 rose 1.06%. NASDAQ rose 1.77%. 10-year yield dropped -0.049 to 1.634. |
