 Dollar is starting to reverse recent gains, probably in a more persistent way. Australian Dollar is leading the way higher today, as supported by extended improvement in risk sentiment. But for the week, Swiss Franc and Euro are the strongest ones, followed by Canadian. Yen is still the worst performer, even though it's in recovery against the greenback. Technically, much focus is now on 1.0078 minor resistance in EUR/USD, and 1.1608 minor resistance in GBP/USD. Firm break of these levels will indicate short term bottoming at 0.9863 and 1.1404 respectively. In this case, EUR/USD should be considered regaining parity for now while GBP/USD should have defended 2020 low. Both would have more upside potential for the near term then. In Asia, at the time of writing, Nikkei is up 0.46%. Hong Kong HSI is up 2.59%. China Shanghai SSE is up 0.70%. Singapore Strait Times is up 0.84%. Japan 10-year JGB yield is down -0.0128 at 0.239. Overnight, DOW rose 0.61%. S&P 500 rose 0.66%. NASDAQ rose 0.60%. 10-year yield rose 0.027 to 3.292. |
