The forex markets are generally steady in Asian session, as traders await ECB and BoE rate decisions. Dollar is staying as the weakest for the week one after yesterday's selloff, followed by Yen. Aussie and Euro are the strongest ones. There is upside prospect for Euro even if ECB delivers just a slight hawkish tilt. But that's far from being certain. Meanwhile, the greenback will continue to look into the developments in overall market sentiments, as well as ISM services today and non-farm payroll report tomorrow. Technically, it should be about time for Gold to complete the recovery from 1780.10, as it touches 4 hour 55 EMA while 4 hour MACD is approaching trend line. Break of 1794.31 minor support will suggest that fall from 1853.70 is ready to resume through 1780.10 to 1753.32 low. However, firm break of 1816.71 minor resistance will put 1853.70 back into focus. The move in Gold will again be used to confirm the underlying momentum in Dollar's next move. In Asia, at the time of writing, Nikkei is down -0.98%. Japan 10-year JGB yield is up 0.0073 at 0.186. Hong Kong and China are still on holiday. Overnight, DOW rose 0.63%. S&P 500 rose 0.94%. NASDAQ rose 0.50%. 10-year yield dropped -0.034 to 1.766. |