Renewed surge in US treasury yields overnight sent stocks lower. Risk-off sentiments continued in Asian session general. Australian Dollar is currently the worst performing one for the day, weighed down further by weak retail sales data. Canadian Dollar is following as second weakest, as oil priced tumbled. Swiss Franc, Yen and Dollar are the stronger ones, with Yen shrugging off BoJ's policy announcement. Overall, it should also be noted that all major pair and crosses are now back inside last week's range. Technically, one focus remains on whether Dollar could break out from the near term range. Levels to watch are 1.1834-1.1989 in EUR/USD, 1.3777-1.4016 in GBP/USD, 0.7620-0.7848 in AUD/USD, 108.33-109.35 in USD/JPY. Also, another focus is whether Yen could rebound if risk-off continues for the rest of the day. Levels to watch include 129.47 minor support in EUR/JPY and 150.75 minor support in GBP/JPY. In Asia, currently, Nikkei is down -1.44%. Hong Kong HSI is down -1.55%. China Shanghai SSE is down -1.04%. Singapore Strait Times is up 0.33%. Japan 10-year JGB yield is up 0.0088 at 0.115. Overnight, DOW dropped -0.46%. S&P 500 dropped -1.48%. NASDAQ dropped -3.02%. 10-year yield rose 0.089 to 1.730. |
