The markets continues to trade in non-committal way as traders await Fed's comments on treasury yields. Swiss Franc is currently the strongest one for the week, thanks to yesterday's rally. But there is no follow through buying so far. Canadian Dollar is following closely as the second strongest. Euro, on the other hand, is the worst performing one, followed by Aussie and then Sterling. But, except against Swiss and Loonie, Euro, Aussie and Pound are bounded inside last week's range. Technically, despite yesterday's retreat, USD/JPY, EUR/JPY and GBP/JPY are holding above 108.33, 129.02 and 150.54 minor support respectively. Further rise will remain in favor in these Yen crosses. As for Dollar, it's holding in range against Euro, Sterling, Aussie and Swiss too. Gold will be used as a tool to double-confirm Dollar's move. Firm break of 1740.32 resistance should confirm short term bottoming and bring stronger rebound. Meanwhile, rejection by 1740.32 will likely extend the larger fall through 1676.65 temporary low. In Asia, Nikkei is currently down -0.16%. Hong Kong HSI is down -0.12%. China Shanghai SSE is down -0.20%. Singapore Strait Times is down -0.01%. Japan 10-year JGB yield is flat at 0.099. Overnight, DOW dropped -0.39%. S&P 500 dropped -0.16%. NASDAQ rose 0.09%. 10-year yield rose 0.014 to 1.621. |
