 While Dollar is so far the strongest one for the week, there is clearly no follow through buying. The greenback is stuck in range against most others with traders on the sideline ahead of FOMC. Canadian and New Zealand Dollars are the two exceptions, which are already breaking through near term support against Dollar. We'll see if other pairs would finally follow with breakouts. Technically, as with Dollar's move today, we'd monitor the actions in EUR/USD, GBP/USD, USD/CHF and USD/JPY together to confirm the moves of each other. To be specific, the ranges to breakout from are 1.1185/1.3820 in EUR/USD, 1.3158/1.3351 in GBP/USD, 0.9156/0.9372 in USD/CHF and 112.52/115.51 in USD/JPY. In Japan, at the time of writing, Nikkei is up 0.05%. Hong Kong HSI is down -0.04%. China Shanghai SSE is down -0.15%. Singapore Strait Times is down -0.26%. Japan 10-year JGB yield is down -0.0007 at 0.050. Overnight, DOW dropped -0.30%. S&P 500 dropped -0.75%. NASADAQ dropped -1.14%. |
