 The forex markets are generally steady in Asian session today, with all major pairs and crosses stuck inside yesterday's range. BoJ's decision to stand pat on policy triggered little reaction. Instead, focus will turn to ECB, with main question on whether a 25bps hike will be delivered as pre-committed, or a bolder 50bps hike. As for the week, Aussie and Euro are currently the strongest ones while Dollar and Yen are the weakest, together with Swiss Franc. That's a reflection on relatively positive market sentiment. Technically, while both Euro and Aussie are firmer this week, Aussie is having a slight upper hand. Yet, it's staying above 1.4759 minor support so far. It will be an interesting pair to watch today. Strong break of 1.4759 support will retain near term bearishness in EUR/AUD, and should send it through 1.4318 support to resume larger down trend. That could be a sign of come back of Euro bears, in particular against commodity currencies. In Asia, Nikkei closed up 0.44%. Hong Kong HSI is down -0.71%. China Shanghai SSE is down -0.40%. Singapore Strait Times is down -0.49%. Japan 10-year JGB yield is down -0.0049 at 0.239. Overnight, DOW rose 0.15%. S&P 500 rose 0.59%. NASDAQ rose 1.58%. 10-year yield rose 0.017 to 3.036. |
