The forex markets are rather quiet in Asia, with major pairs and crosses stuck inside yesterday's tight range. Risk sentiments are mixed. While US indexes extended the record runs overnight, Asian index are struggling, as dragged down by extended selloff in Hong Kong. Overall, European majors are generally firmer together with Yen. On the other hand, Dollar and commodity currencies are soft. Technically, we'd pay attention to whether Dollar would turn weaker leading up to FOMC policy decision. In particular, break of 110.00 minor support in USD/JPY would suggest completion of rebound from 109.05. Break of 1.1880 resistance in EUR/USD would also indicate short term bottoming. At the same time, Gold is holding on to 1791.45 support with some resilience. Break of 1833.91 resistance will resume the rebound from 1750.49. In Asia, at the time of writing, Nikkei is up 0.50%. Hong Kong HSI is down -1.03%. China Shanghai SSE is up 0.14%. Singapore Strait Times is up 0.53%. Japan 10-year JGB yield is up 0.0051 at 0.022. Overnight, DOW rose 0.24%. S&P 500 rose 0.24%. NASDAQ rose 0.03. 10-year yield dropped -0.010 to 1.276. |
