US TSYS: US T-Note futures continued their march higher to 124.26 for a gain of
12+ ticks on the session, the front month contract has since levelled out at 124.25. This has been a quiet session in Asia-Pac trade, markets are still
digesting the move by US president Trump and his team to pull the Healthcare bill on Friday.
- Risk off has seen USDJPY move to the lowest levels since November 2016 at 110.37, JPY strength has pressured Japanese equity markets. The Nikkei 225 is
291 points lower. - US equity futures are also feeling the pressure, down around 0.1% in emini S&P
futures. - The US session sees several significant events; 3-,6-Month bill sale, $26bln
2-Year note sale, a speech from Fed's Evans and a speech from Fed's Kaplan after
* Dollar at weakest levels vs yen since November. * Trump's healthcare defeat weighs on greenback. Japan's Nikkei share average skidded on Monday, battered by a resurgent yen and deepening last week's 1.3 percent loss.
The U.S. dollar fell to its lowest level against the yen since late November as the failure of a Donald Trump-backed measure to repeal Obamacare gave investors another cue for buying the yen and other major currencies. The yen strengthened as much as 1.0% against the dollar, to trade at Y110.24 around 0105 GMT. That was the dollar's lowest level against the Japanese currency since Nov. 22. The euro rose to $1.0849, its highest against the dollar since Dec. 8. The Wall Street Journal...
US EURODLR FUTURES: Eurodollar futures higher across the strip.
- White Pack (Jun'17-Mar'18)
* June'17 +0.005 at 98.720
* Sep'17 +0.010 at 98.590
* Dec'17 +0.020 at 98.470
* Mar'18 +0.025 at 98.365
* Red Pack +0.030-0.045 * Green Pack +0.040-0.045
* Blue Pack +0.040-0.045
DOLLAR-YEN TECHS: Bears Focused On Channel Base
*RES 4: Y112.11 Hourly resistance Mar 21a *RES 3: Y111.80 Hourly resistance Mar 21
*RES 2: Y111.58 High Mar 23 *RES 1: Y111.05 Hourly resistance Mar 27
*PRICE: Y110.38 @ 0330GMT *SUP 1: Y110.24 Low Nov 22
*SUP 2: Y110.10 200-WMA *SUP 3: Y109.46 Daily bear channel base
*SUP 4: Y18.52 High Nov 14 now support *COMMENTARY: The Bollinger base (Y110.42) remains a concern as do O/S daily
studies and support emerging ahead of Y110.24. Layers of resistance remain with bulls needing a close above Y111.80 to ease bearish pressure and above the
100-DMA (Y113.60) to shift focus back to the falling daily TL and key resistance Y114.79-115.63. While Y111.80 caps bears focus on the bear channel base
(Y109.46) with a close below targeting the 200-DMA.
EURO-DOLLAR TECHS: Focus On 200-DMA
*RES 4: $1.0953 High Nov 10 *RES 3: $1.0887 Weekly Bear channel top
*RES 2: $1.0881 200-DMA *RES 1: $1.0873 High Dec 8
*PRICE: $1.0846 @ 0330GMT *SUP 1: $1.0817 Hourly support Mar 24
*SUP 2: $1.0772 Hourly resistance Mar 24 now support *SUP 3: $1.0752 Hourly support Mar 21
*SUP 4: $1.0718 Low Mar 21 *COMMENTARY: Bears failed to trouble the key $1.0705 support Friday with the
bounce resulting in a break above $1.0829. Bulls remain focused on layers of resistance $1.0873-1.0960 where the 200-DMA and bull & bear channel tops are
found. Bears now look for a close below $1.0752 to ease immediate bullish pressure and below $1.0705 to shift focus back to DMAs $1.0633-72. O/B daily
studies and the Bollinger top are concerns for bulls.
The U.S. dollar took a spill in early Asian trade on Monday as investors in the region fretted about the chances of U.S. fiscal stimulus following the defeat of President Donald Trump's healthcare package.
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