Dollar's rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss Franc are currently the weakest for the weak. In particular, Aussie is shrugging off some solid manufacturing and trade data. Technically, EUR/USD's breach of 1.1846 suggests fall resumption towards 1.1703 support. USD/JPY also breaks 111.10 resistance to resume recent rally. Focus now turns to 0.7476 support in AUD/USD and 1.3785 support in GBP/USD. Break of these level should seal the case for more rally in Dollar. NZD/USD could also take on 0.6921 support soon. Break there will resume whole corrective pattern from 0.7463 to 100% projection of 0.7463 to 0.6942 from 0.7315 at 0.6794. In Asia, at the time of writing, Nikkei is down -0.44%. Hong Kong and China are on holiday. Singapore Strait Times is up 0.02%. Japan 10-year JGB yield is down -0.0091 at 0.050. Overnight, DOW rose 0.61%. S&P 500 rose 0.13%. NASDAQ dropped -0.17%. 10-year yield dropped -0.037 to 1.443. |