It's the same old story as Asian markets open in risk-on mode. Commodity currencies strengthen broadly, but led by New Zealand Dollar this time. On the other hand, Swiss Franc, Yen and Dollar are the weaker ones, while Euro and Sterling are mixed. Trading could be subdued today with a thin economic calendar. ECB President Christine Lagarde would speak but she's unlikely to say something different from what she said last week. Though, German Ifo business climate might trigger some reactions. Technically, Euro would be a focus after last week's late rebound. Levels to watch include 0.8923 minor resistance in EUR/GBP, 1.0790 minor resistance in EUR/CHF and 1.5830 minor resistance in EUR/AUD. Firm break of these levels would be needed to confirm underlying momentum for a sustainable rebound. Otherwise, selloff in Euro could come back later in the week. In Asia, currently, Nikkei is up 0.43%. Hong Kong HSI is up 2.03%. China Shanghai SSE is up 0.56%. Singapore Strait Times is down -0.28%. Japan 10-year JGB yield is down -0.0052 at 0.037. |
