 Dollar's rebound stalled once again quickly, as risk markets appear to have stabilized. Overall, Swiss Franc is following the greenback as the second strongest for the week so far, then Canadian. Yen is the worst performer, followed by Aussie and Kiwi. Euro and Sterling are mixed with Sterling having an upper hand. Canadian retail sales will be a feature of the day while many central bankers will speak. Hopefully, there would be some more decisive market actions. Technically, USD/CAD is now pressing 1.3494 support turned resistance. Decisive break there will indicate that correction from 1.3976 has completed with three waves down to 1.3224. More important, that would be successful defense of 1.3222 key resistance turned support, and reinforce medium term bullishness. In this case, there's prospect of retesting 1.3976 high next. In Asia, at the time of writing, Nikkei is up 0.70%. Hong Kong HSI is down -0.39%. China Shanghai SSE is up 0.75%. Singapore Strait Times is up 0.51%. Japan 10-year JGB yield is up 0.0007 at 0.246. Overnight, DOW dropped -0.13%. S&P 500 dropped -0.39%. NASDAQ dropped -1.09%. 10-year yield rose 0.007 to 3.825. |
