Following return of risk-on sentiment, commodity currencies are currently the best performers for the week. On the other hand, Swiss Franc and Yen are trading broadly lower, followed by Euro and Dollar. The economic calendar is very light today and main focus will be on BoC policy decision. At the same time, we'll see if the strong stock market rally could continue to push major US indexes back to record highs. Technically, the rebounds in Yen crosses are relatively disappointing so far, considering the strong rise in stocks. We'll continue to keep an eye on 113.94 minor resistance in USD/JPY, 128.77 minor resistance in EUR/JPY and 152.35 resistance in GBP/JPY to gauge if they're in a bullish turnaround. In Asia, at the time of writing, Nikkei is up 1.19%. Hong Kong HSI is down -0.10%. China Shanghai SSE is up 0.73%. Singapore Strait Times is down -0.23%. Japan 10-year JGB yield is down -0.0011 at 0.054. Overnight, DOW rose 1.40%. S&P 500 rose 2.07%. NASDAQ rose 3.03%. 10-year yield rose 0.046 to 1.480. |