Dollar and Yen remain generally firm in Asian session while Australian and New Zealand Dollars are soft. US stocks pared back much of the initial losses overnight with DOW ended nearly flat. Overall sentiments are also stable and mixed in Asia only. Coronavirus infections and politics, like US election and stimulus as well as Brexit, will continue to provide the volatility for the markets. But that's not so much the case for New Zealand, as Prime Minister Jacinda Ardern is widely tipped to win this week's election after successfully controlling the coronavirus outbreak. Technically, Dollar and Yen appear to be on a firm footing, but they both have more to prove. USD/CAD breached 1.3242 resistance overnight but couldn't overcome it cleanly. USD/CHF is also held well below 0.9197 minor resistance while GBP/USD is holding comfortably above 1.2845 minor support. GBP/JPY is also still struggling at around 135.66 minor support, without confirming underlying near term bearishness. Gold has clearly lose much upside momentum as seen in 4 hour MACD. Yet, it's holding above 1872.75 support and thus, another rise is still in favor to 1973.58 resistance. In Asia, currently, Nikkei is down -0.34%. Hong Kong HSI is up 1.01%. China Shanghai SSE is up 0.05%. Singapore Strait Times rose 0.35%. Japan 10-year JGB yield is down -0.0021 at 0.021. Overnight, DOW dropped -0.07%. S&P 500 dropped -0.15%. NASDAQ dropped -0.47%. 10-year yield rose 0.009 to 0.731. |
