Dollar and Yen are consolidating this week's gains in Asian session today. There is no clear sign of topping in both Dollar and Yen. Yet, there is also no follow through buying to push Dollar through main near term resistance against other major currencies. Fed looks on track to start tapering later in the year, but that would very much depend on upcoming economic data. Volatility could surge as we'd have ADP employment today, ISM manufacturing tomorrow, and non-farm payroll on Friday. Technically, focuses will remain on when Dollar could break through near term resistance levels. Levels to watch include 1.1846 support in EUR/USD, 1.3785 support in GBP/USD, 0.9237 resistance in USD/CHF, 0.7476 support in AUD/USD, and 1.2485 resistance in USD/CAD. In Asia, at the time of writing, Nikkei is down -0.01%. Hong Kong HSI is down -0.16%. China Shanghai SSE is up 0.24%. Singapore Strait Times is up 1.34%. Japan 10-year JGB yield is up 0.0040 at 0.064. Overnight, DOW rose 0.03%. S&P 500 rose 0.03%. NASDAQ rose 0.19%. 10-year yield rose 0.002 to 1.480. |
