 Dollar is slightly on the softer side in Asian session today. Fed Chair Jerome Powell's affirmed the markets overnight that disinflation process has started. The comments give risk sentiment a lift and pulled the greenback lower. It remains to be seen if Dollar is just digesting the near term gains or topping. Some more time is needed for it to reveal the path. As for the week, Aussie is currently the strongest one, followed by Swiss France and then Canadian. Euro is the worst performer, followed by Sterling, as both was pressured by selling against Swissy. Dollar is mixed in between. Technically, Bitcoin's rebound from 15452 halted after hitting 24245 and turned into sideway trading. For now, further rally is in favor as long as 22314 support holds. Yet, the real test lies in 25198 resistance. It's probably just a matter of topping after one more surge, or having topped. The development in Bitcoin would be used as a gauge on broader risk sentiment, in particular NASDAQ. That would in turn affect Dollar's next move. In Asia, at the time of writing, Nikkei is down -0.40%. Hong Kong HSI is down -0.03%. China Shanghai SSE is down -0.21%. Singapore Strait Times is up 0.23%. Japan 10-year JGB yield is up 0.0007 at 0.496. Overnight, DOW rose 0.78%. S&P 500 rose 1.29%. NASDAQ rose 1.90%. 10-year yield rose 0.040 to 3.674. |
