 While some selling pressure is seen in Asian stocks, the forex markets are relatively steady. Canadian Dollar is currently the stronger one, followed by Yen. Sterling is the softer one, followed by Swiss France, Euro and Dollar. Overall risk sentiment will continue to drive the markets this week and hence we'll have some attention on Yen crosses. RBA and and RBNZ could also drive some volatility in Aussie and Kiwi too. Technically, Sterling is also worth a watch this week. One the other hand, it's displaying some strength against Euro and Dollar. Break of 0.8499 support in EUR/GBP will argue that rebound from 0.8448 has completed at 0.8656. Also, break of 1.3608 resistance in GBP/USD will also indicate short term bottoming. On the other hand, sustained break of 149.03 key support in GBP/JPY will carry larger bearish implications. In Asia, at the time of writing, Nikkei is down -1.41%. Hong Kong HSI is down -2.25%. Singapore Strait Times is up 1.46%. Japan 10-year JGB yield is down -0.0061 at 0.049. China remains on holiday. |
