Following strong closes in US stocks, Asian markets ex-Japan are trading generally higher. The development helps lift commodity currencies generally higher. In particular, New Zealand Dollar is additionally lifted by much stronger than expected job data. Yen is paring some gains but weak treasury yields is keeping it afloat. On the other hand, Dollar continues to trade with an undertone and remains one of the weakest for the week. Technically, as we're entering into the second half of the week with job and services data, focuses will be on whether Dollar selling would take over again. In particular, break of 1.1907 resistance in EUR/USD and 1.3982 resistance in GBP/USD should seal the case in European-Dollar pairs. Meanwhile, Gold is holding on well to 4 hour 55 EMA so far, maintaining mild bullish favor. Break of 1833.91 resistance should resume the rebound from 1750.49 and double-confirm Dollar selloff. In Asia, at the time of writing, Nikkei is down -0.20%. Hong Kong HSI is up 1.53%. China Shanghai SSE is up 0.56%. Singapore Strait Times is up 0.97%. Japan 10-year JGB yield is down -0.0024 at 0.007. Overnight, DOW rose 0.80%. S&P 500 rose 0.82%. NASDAQ rose 0.55%. 10-year yield rose 0.002 to 1.176. |
