 The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is also limited. For now, Sterling, Swiss Franc, and Yen are on the softer side. Traders are waiting for upcoming data including Eurozone CPI and US non-farm payroll to make a bigger bet. Technically, while Euro looks strong, it hasn't clear out near term resistance level in some pairs yet. The levels include 1.0094 minor resistance in EUR/USD, and 0.9698 minor resistance in EUR/CHF. These two levels need to be decisively taken out to confirm the come back of Euro. Otherwise, momentum in other crosses could be somewhat capped. In Asia, at the time of writing, Nikkei is up 1.19%. Hong Kong HSI is down -0.90%. China Shanghai SSE is down -0.57%. Singapore Strait Times is up 0.52%. Japan 10-year JGB yield is down -0.0093 at 0.234. Overnight, DOW dropped -0.57%. S&P 500 dropped -0.67%. NASDAQ dropped -1.02%. rose 0.073 to 3.110. |
