Dollar's selloff continues in Asian session today as overall market sentiment is supported by further restriction easing in China. The improvement in sentiment is also reflected in some weakness in Yen and Swiss Franc. Australian Dollar and Canadian Dollar are trading generally higher, awaiting rate hike by RBA and BoC later in the week. Euro and Sterling are mixed for now. Technically, Gold is also extending the rise from 161.51. Next target is 61.8% projection of 1616.51 to 1786.83 from 1728.48 at 1833.73. Sustained break there could prompt acceleration to 100% projection at 1898.80, which is close to 1900 handle. If happens, that could be a confirming signal of Dollar's selloff, which might be accompanied by EUR/USD's firm break of 1.0609 fibonacci level. In Asia, at the time of writing, Nikkei is down -0.03%. Hong Kong HSI is up 3.46%. China Shanghai SSE is up 1.56%. Singapore Strait Times is up 0.49%. Japan 10-year JBG yield is up 0.0026 at 0.254. |