Yen's decline resumes in Asian session today, with selling focusing against commodity currencies. Aussie shrugs off slightly weaker than expected job data, and strengthen together with Kiwi and Loonie. On the other hand, Dollar turns slightly softer even though FOMC minutes affirmed tapering to start in November. Euro is not far away too while Sterling is a bit sluggish. As for the week, Aussie is currently the strongest one so far, followed by Kiwi. Yen remains the worst, followed by Dollar and Euro. Technically, USD/CAD is now pressing a key structural support level at 1.2421. Sustained break there would argue that whole rebound from 1.2005 has completed at 1.2947. That would set the stage for retesting 1.2005 low. That, if happens, might be a prelude for more downside in Dollar in general, except versus Yen. In particular, AUD/USD could follow and rise through 0.7477 resistance to affirm the case that larger correction form 0.8006 has completed. In Asia, at the time of writing, Nikkei is up 1.44%. China Shanghai SSE is up 0.15%. Singapore Strait Times is up 0.22%. Japan 10-year JGB yield is down -0.0044 at 0.086. Overnight, DOW dropped -0.00%. S&P 500 rose 0.30%. NASDAQ rose 0.73%. 10-year yield dropped -0.031 to 1.549. |
