 In today's quiet Asian session, forex markets have largely stayed within a narrow range, with minimal response to positive PMI data from Australia and Japan. Yen has seen a slight recovery but continues to be the weakest performer of the week, followed closely by Sterling and Dollar. On the flip side, New Zealand Dollar remains the leader, with Swiss Franc and Aussie following, while Canadian and Euro are mixed. Attention is now shifting to PMI data from Eurozone, UK, and US, set to be released later today. Even though these figures may not trigger significant market reactions, they will still offer some insights into how these economies are faring amidst prolonged global monetary policy tightening. On the technical front, Gold has dipped notably in the Asian session, but it remains to be seen if the corrective recovery from 1951.77 has completed. Nevertheless, near-term outlook remains cautiously bearish, as long as 1999.30 support-turned-resistance continues to hold. Break below 1951.77 would resume the overall decline from 2062.95. If this occurs, a downside breakout in Gold could coincide with a drop below 1.0759 temporary low in Euro, signaling potential upside momentum in the greenback. In Asia, at the time of writing, Nikkei is down -0.67%. Hong Kong HSI is down -0.58%. China Shanghai SSE is down -0.58%. Singapore Strait Times is up 0.35%. Japan 10-eyar JGB yield is up 0.0060 at 0.393. Overnight, DOW dropped -0.42%. S&P 500 rose 0.02%. NASDAQ rose 0.50%. 10-year yield rose 0.027 to 3.719. |
