The forex markets are quiet in a typical Asian session on Monday. Yen and Swiss Franc are trading slightly higher as Asian stocks pull back from recent rally. While exports number from China look strong, imports growth clearly lagged behind. Sterling is currently the weaker one as Brexit negotiations are still carrying on, and running out of time. It's reported that there were breakthroughs on fishing. But issues regarding level playing field remain to be resolved. Dollar and commodity currencies are mixed, together with Euro. Technically, Yen could be an interesting one to watch for the week, and possibly for the rest of the month. EUR/JPY lost momentum ahead of 127.07 resistance, failing to resuming near term up trend for now. Similarly, GBP/JPY is held below 142.71 resistance. NZD/JPY was the strongest one while took out 71.66 resistance earlier in November. CAD/JPY is playing catchup and breached 81.42 resistance. But AUD/JPY is held well below 78.46. We'll see if these Yen crosses would finally align with each other on uptrend resumption. Or, pull back in EUR/JPY, GBP/JPY and AUD/JPY would drag down the others. In Asia, currently, Nikkei is down -0.89%. Hong Kong HSI is down -1.69%. China Shanghai SSE is down -0.66%. Singapore Strait Times is down -0.12%. Japan 10-year JGB yield is up 0.0018 at 0.027. |