 The financial markets are rather steady in Asian session today, showing little reaction to the brief "uprising" in Russia. Major indexes generally traded in tight range, with the exception of China which is just catching up the holidays on Thursday and Friday. In the currency markets, Aussie is the worst performer for now, followed by Kiwi by a distant. Yen is the stronger one, followed by Canadian. But overall, other than a few Aussie pairs, major pairs and crosses are bounded inside Friday's range. Technically, AUD/NZD's decline from 1.1050 extended lower today and it's now pressing 55 D EMA (now at 1.0846). Sustained trading below the EMA would pave the way down towards 1.0556 support. For now, break of 1.0469 is not envisaged unless further downside acceleration is seen. However, if this scenario does come to fruition, a deeper fall in AUD/NZD could potentially hinder the recovery of Aussie elsewhere. In Asia, Nikkei closed down -0.25%. Hong Kong HSI is down -0.40%. China Shanghai SSE is down -1.51%. Singapore Strait Times is up 0.02%. Japan 10-year JGB yield is down further by -0.126 at 0.359. |
