 Dollar is regaining some ground in Asian session today, as yesterday's selloff was relatively well contained so far. Sterling is also recovering, together with Euro, against others. On the other hand, Australian Dollar turns softer after uneventful RBA rate decision. Other commodity currencies are also weak. Overall markets will turn to ISM services for guidance on next move. Technically, there is no overwhelming indication of a near term bearish reversal in Dollar. EUR/USD is holding below 1.1682 minor resistance, AUD/USD below 0.7315 minor resistance, USD/CHF above 0.9214 support, USD/JPY above 110.44 support. GBP/USD's break of 1.3608 resistance is also not clean. As long as these levels hold, Dollar buying is more likely to come back in the near term than not. In Asia, at the time of writing, Nikkei is down -2.32%. Hong Kong HSI is up 0.32%. Singapore Strait Times is down -0.77%. Japan 10-year JGB yield is up 0.0046 at 0.056. China is still on holiday. Overnight, DOW dropped -0.94%. S&P 500 dropped -1.30%. NASDAQ dropped -2.14%. 10-year yield rose 0.016 to 1.481. |
