Overall markets are rather mixed so far, as guided by the volatile risk sentiment. There is no clear follow through moves in the markets. Sterling is the strongest one for the week so far, after the surprised BoE rate hike. But Swiss Franc is the second strongest, as helped by some safe haven flow. Canadian Dollar is the worst performing, while even the strong Aussie is losing much momentum. Dollar and Euro are mixed and they're still bounded in range against each other. Technically, Gold is probably displaying the clearest picture. A short term bottom is formed at 1752.32 with break of 1792.94 resistance. It's supported by bullish convergence condition in 4 hour MACD too. Fall from 1877.05 should be finished. If Gold could grab firm hold above 1800 handle, there is prospect of further rise back to 1877.05 resistance. That, if happens, would be a sign of Dollar weakness. In Asia, at the time of writing, Nikkei is down -1.63%. Hong Kong HSI is down -1.28%. China Shanghai SSE is down -0.90%. Singapore Strait Times is down -0.28%. Japan 10-year JGB yield is up 0.0016 at 0.046. Overnight, DOW dropped -0.08%. S&P 500 dropped -0.87%. NASDAQ dropped -2.47%. 10-year yield dropped -0.041 to 1.422. |
