While US stocks staged a strong rally overnight, Asian markets turned mixed. Investors are holding their bets ahead of US CPI data. Australian Dollar remains the strongest one for the week, followed by Kiwi. Loonie also regained some ground with help from the stabilization in oil prices. On the other hand, Yen is currently the worst performing one, followed by Euro and then Dollar. Technically, major focus remains on 1.1482 resistance in EUR/USD. Firm break there will add to the case of bullish trend reversal. At the same time, if that happens, attention will be paid on whether it's more of a return to strength in Euro, or weakness in Dollar. Sterling could be used as a gauge. Break of 1.3627 resistance in GBP/USD will be a sign of Dollar weakness. Break of 0.8476 resistance in EUR/GBP will be a sign of Euro strength. But of course, both could happen at the same time. In Asia, Nikkei closed up 0.30%. Hong Kong HSI is down -0.33%. China Shanghai SSE is down -0.36%. Singapore Strait Times is down -0.02%. Japan 10-year JGB yield is up 0.0185 at 0.227. Overnight, DOW rose 0.86%. S&P 500 rose 1.45%. NASDAQ rose 2.08%. 10-year yield dropped -0.025 to 1.929. |
