 Dollar's recovered continued in Asian session today, partly supported by hawkish comments from a Fed official. Mixed sentiments in the stock markets also stabilized the greenback. Instead, commodity currencies continued to reverse some gains. Main focus today will turn to BoC policy decision but that would likely be a non-event. Based on current price actions, Canadian Dollar has the prospect to weaken slightly for the near term after clearing this risk. Technically, one focus is 1.2706 resistance in USD/CAD. Break there will suggests that pull back from 1.2947 has completed and bring stronger rebound to retest this high. At the same time, we'd look at 1.1792 support in EUR/USD and 1.3730 support in GBP/USD. Break of these levels will indicate more broad based rebound in Dollar, which could also be seen elsewhere. In Asia, Nikkei closed up 0.89% at 30181.21, back above 30k handle. Hong Kong HSI, however, is down -0.23%. China Shanghai SSE is down -0.42%. Singapore Strait Times is down -1.11%. Japan 10-year JGB yield is up 0.0009 at 0.041. Overnight, DOW dropped -0.76%. S&P 500 dropped -0.34%. But NASDAQ rose 0.07%. 10-year yield jumped by 0.048 to 1.370. |
