 Dollar rises broadly in Asian session, extending the post-Powell rally. Risk-off sentiment is a factor giving the greenback another boost. At the same time, 10-year yield is back above 3.1% in Asia, giving Dollar another lift, and hammers Yen at the same time. The trend will likely continue for a while with an empty calendar today. But more volatility lies ahead with lots of heavy weight data scheduled later in the week, including US non-farm payroll report. Technically, Gold resumes the decline from 1807.66 resumes by breaking through 1727.56 temporary low. Deeper fall should be seen as long as 1765.29 resistance holds, towards 1680.83 key support level. There is still prospect of a bounce from there to stage a near term bullish reversal. However, sustained break of 1680.83 will be a medium term bearish signal, and could also be a signal of more powerful, persistent rally in Dollar too. In Asia, at the time of writing, Nikkei is down -2.66%. Hong Kong HSI is down -0.73%. China Shanghai SSE is down -0.24%. Singapore Strait Times is down -0.91%. Japan 10-year JGB yield is up 0.216 at 0.242. |
