Trading in Asian session is relatively subdued today, as some participants are already looking forward to the weekend, after a roller coaster ride. Canadian Dollar is currently the strongest one for the week, helped by rebound in WTI oil price, which is back above 71. However, New Zealand and Australian Dollars are the worst performing ones. Dollar and Yen diverged after risk markets stabilized and recovered. Euro is currently the weakest European major, in particular against Sterling. Technically, we'd pay some attention to CAD/JPY, which could react further to Canada retail sales today, as well as the stock markets. It's now pressing 87.94 support turned resistance. Firm break there would argue that whole corrective fall from 91.16 has completed at 85.40 already. Stronger rise would be seen back to retest 91.16 high in the coming weeks. In Asia, at the time of writing, Hong Kong HSI is down -1.10%. China Shanghai SSE is down -0.75%. Singapore Strait Times is down -0.18%. Japan is still on holiday. Overnight, DOW rose 0.07%. S&P 500 rose 0.20%. NASDAQ rose 0.36%. 10-year yield dropped -0.015 to 1.265. |
