Overall markets were rather mixed for the moment. Dollar's selloff was quickly choked off by strong ISM services overnight, even though there is no clear follow through buying. Traders are holding off the bets for now, awaiting tomorrow's non-farm payroll figures. Sterling will come to the center of the stage today first, with BoE super Thursday. But barring the situation of drastic surprise in asset purchase voting, the event is unlikely to trigger some sustainable moves. Technically, development in gold is a clear reflection of indecisiveness in the markets. Another attempt on breaking through 1833.91 resistance failed. Yet, it's still holding on to 4 hour 55 EMA and 1800 handle. At this point, further rise is still in favor and break of 1833.91 would finally resume the rebound from 1750.49 to 61.8% retracement of 1916.30 to 1750.39 at 1852.96. On the downside, firm beak of 1789.42 support is needed to confirm completion of the rebound from 1750.49, in case of any pre- and post-NFP jitters. In Asia, at the time of writing, Nikkei is trading up 0.44%. Hong Kong HSI is down -0.38%. China Shanghai SSE is down -0.06%. Singapore Strait Times is down -0.36%. Japan 10-year JGB yield is up 0.0046 at 0.009. Overnight, DOW dropped -0.92%. S&P 500 dropped -0.46%. NASDAQ rose 0.13%. 10-year yield rose 0.008 to 1.184. |
