Dollar rose broadly overnight, following solid job and services data, and remains firm in Asian session. Nevertheless, the real test lies in today's non-farm payroll report. As of now, Yen is the second strongest for the week, following the green back. Canadian Dollar is the third strongest, and will face the test of its own job data too. Kiwi and Aussie are the worst performing, together with Sterling. Technically, AUD/USD's break of 0.7673 support suggests that the pattern from 0.8006 is now in its third leg, targeting 0.7530 support again. To seal the case of near term Dollar reversal, we should ideally see decisive break of 1.4090 support and GBP/USD, as well as 0.9046 resistance in USD/CHF today. Gold's break of 1882.07 support overnight should confirm short term topping at 1916.06. However, a strong and quick rebound above this support turned resistance could be a warning for the Dollar bulls. In Asia, at the time of writing, Nikkei is down -0.41%. Hong Kong HSI is up 0.17%. China Shanghai SSE is up 0.14%. Singapore Strait Times is down -0.15%. Japan 10-year JGB yield is up 0.0014 at 0.088. Overnight, DOW dropped -0.07%. S&P 500 dropped d-0.36%. NASDAQ dropped -1.03%. 10-year yield rose 0.034 to 1.625. |
