 The Monday Asian session started quietly with Japan on holiday and the US and Canada on extended weekends. Market reactions to China’s Minister of Finance press briefing over the weekend have been subdued, as traders await further details regarding China’s anticipated fiscal stimulus. Without specifics, it's difficult to gauge the broader impact on the country’s economic outlook. In the currency markets, Dollar is currently leading gains, followed by British Pound and Canadian Dollar. On the downside, New Zealand Dollar is the weakest, followed by Australian Dollar and Swiss Franc. Euro and Japanese Yen are trading in the middle. But most major pairs are just confined within Friday’s narrow trading ranges. The key event of the week will be the anticipated ECB rate cut, while inflation data from the UK, Canada, and New Zealand will also be closely monitored for further policy signals. |
