Dollar's rally resumes after brief consolidation as focus now turns to non-farm payroll report. While some Fed officials might sound optimistic on their expectation on tapering later this year, it's certain that Fed won't move unless upbeat outlook is realized in economic data. Successive solid job growth for a few months is needed to give them the confidence that recovery is already on solid ground. As we're approaching the end of the week, Dollar is currently the strongest, followed by Yen and Euro. Australian Dollar is worst performing, followed by New Zealand and Canadian. Technically, Dollar's momentum is so far solid against Euro, Sterling, Aussie and Swiss Franc. In particular, USD/JPY is now inside key resistance zone around 111/112. Sustained break there will carry larger bullish implications. USD/CAD is lagging behind others. We'd like to see USD/CAD breaking through 1.2485 resistance sooner rather than later to affirm the overall near term bluishness in the greenback. In Asia, Nikkei closed up 0.27%. Hong Kong HSI is down -1.93%. China Shanghai SSE is down -1.93%. Singapore Strait Times is up 0.08%. Japan 10-year JGB yield is up 0.0079 at 0.048. Overnight, DOW rose 0.38%. S&P 500 rose 0.52%. NASDAQ rose 0.13%. 10-year yield rose 0.037 to 1.480. |