The forex markets are stuck in very tight range in Asia session today, as traders are awaiting another set of consumer inflation data from the US. For now, Dollar, Euro and Yen are the stronger ones for the week, and they're range bound against each other. Commodity currencies remain the worst performers, as led by Aussie. Sterling and Swiss Franc are mixed, with the Pound having an upper hand. Technically, main focuses remain on range breakout in EUR/USD and USD/JPY. As for EUR/USD, the levels are 1.0470 support and 1.0641 resistance. For USD/JPY, the levels are 128.61 support and 131.34 resistance. Gold extended recent decline through 1850.18 support overnight. That gives Dollar upside breakout a slight advantage. But that's countered by 10-year yield's fall below 3% level. In Asia, at the time of writing, Nikkei is up 0.14%. Hong Kong HSI is up 1.72%. China Shanghai SSE is up 1.63%. Singapore Strait Times is down -0.58%. Japan 10-year JGB yield is up 0.0035 at 0.251. Overnight, DOW dropped -0.26%. S&P 500 rose 0.25%. NASDAQ rose 0.98%. 10-year yield dropped -0.086 to 2.993, back below 3% handle. |
