Australian Dollar is leading commodity currencies higher again, on the back of positive market sentiment. The Aussie is additionally support by better than expected GDP data, which affirms the case for more RBA rate hike. Canadian Dollar is also firm, awaiting BoC's hawkish rate hike. Yen is the worst performing one, following the rally in treasury yields. European majors are also weak, but by a distant to Yen. Dollar is mixed in the middle and would probably need some very strong non-farm payroll data to revive its strengthen. Technically, AUD/JPY's upside acceleration, as seen in 4 hour MACD, affirms the case that it's resuming medium term up trend. Further rally is expected as long as 91.57 minor support holds. Break of 94.00 will add more weight to this case and target 95.73 high and above. At the same time, focus will be on when CAD/JPY would break through 102.93 high to confirm up trend resumption. In Europe, at the time of writing, FTSE is down -0.11%. DAX is up 0.35%. CAC is up 0.16%. Germany 10-year yield is up 0.0221 at 1.145. Earlier in Asia, Nikkei rose 0.65%. Hong Kong HSI dropped -0.56%. China Shanghai SSE dropped -0.13%. Singapore Strait Times rose 0.36%. Japan 10-year JGB yield dropped -0.0039 to 0.236. |
