 Yen remains the worst performer for the week but selling appears to have slowed after Japan's intervention yesterday. Dollar is following as next weakest, as risk sentiment stabilized. Also, Dollar bulls are clearly on guard against sudden volatility in Yen. Australian Dollar is the strongest one together with New Zealander. European majors are mixed, with Sterling with a slight upper hand against Euro and Swiss Franc. Technically, Aussie's rise this week is seen generally as a corrective move, which might not extend much further. To be more specific, AUD/USD is held below 0.6362 minor resistance while EUR/AUD is staying above 1.5429 minor support. Even against the weak Yen, AUD/JPY's recovery is capped by 94.52 resistance, keeping near term outlook bearish. Break of 92.08 minor support in AUD/JPY will argue that fall from 99.32 is ready to resume through 90.81 low. But of course, break of the mentioned levels will indicate that Aussie's rebound is gaining momentum finally. In Asia, at the time of writing, Nikkei is up 0.73%. Hong Kong HSI is down -0.96%. China Shanghai SSE is down -0.40%. Singapore Strait Times is up 0.32%. Japan 10-year JGB yield is down -0.0021 at 0.257. Overnight, DOW rose 1.12%. S&P 500 rose 1.14%. NASDAQ rose 0.90%. 10-year yield dropped -0.017 to 3.998. |
