 Dollar continues to pare back some of this week's losses in early US session, after slightly better than expected durable goods orders. But strength of recovery is so far relatively weak. Markets are also generally in mixed mode. Euro has litter reaction to worst than expected Germany business climate data, too. Overall, traders are turning cautious, awaiting Fed Chair Jerome Powell's inspiration from his Jackson Hole speech. Technically, Gold's development is worth a note. Apparently, it lacks follow through buying to sustain above 1800 handle. Yet, retreat is held comfortably above 1774.14 support so far. We'd continue to monitor the next move. Sustained trading above 1800/32 resistance zone will suggest larger reversal, which could be accompanied by another round of selloff in Dollar. On the other hand, break of 1774.14 will indicate completion of rebound from 1682.60 and Dollar could rebound in tandem. In Europe, at the time of writing, FTSE is up 0.34%. DAX is down -0.13%. CAC is up 0.24%. Germany 10-year yield is up 0.0337 at -0.440. Earlier in Asia, Nikkei closed down -0.03%. Hong Kong HSI dropped -0.13%. China Shanghai SSE rose 0.74%. Singapore Strait Times dropped -0.0%. Japan 10-year JGB yield rose 0.0007 to 0.021. |
