 Overall, the development in the financial markets are rather mixed for now, still awaiting further development in Taiwan Strait tensions. Yen's rally was somewhat choked by the recovery in US benchmark yields overnight. Dollar is attempting a rebound, but momentum doesn't warrant a reversal yet. Sterling is the relatively stronger European major, but the break out against Euro looks half-hearted. Investors might continue to hold their bets until US House Speaker Nancy Pelosi leaves Taiwan. Technically, Gold was rejected by 1786.65 support turned resistance on first attempt, but it's resiliently holding on for now. Further rise will remain in favor as long as 1739.10 support holds. Sustained break of 1786.65 and 55 day EMA will affirm the case and bullish reversal, and target 1878.92 resistance and above next. If happens, Gold's next rally could come with another rebound of selloff in the greenback. In Asia, at the time of writing, Nikkei is up 0.41%. Hong Kong HSI is up 0.61%. China Shanghai SSE is up 0.40%. Singapore Strait Times is up 0.33%. Japan 10-year JGB yield is up 0.014 at 0.191. Overnight, DOW dropped -1.23%. S&P 500 dropped -0.67%. NASDAQ dropped -0.16%. 10-year yield rose 0.135 to 2.741. |
