The markets are rather quiet in Asian session. Stock indexes are trading higher but no follow through buying is seen. In the forex markets, major pairs and crosses are stuck inside Friday's range, with commodity currencies a touch firmer. Activity could remain subdued with an empty calendar for today. Yet, volatility is guaranteed with five major central bank meeting scheduled for the week, plus a lot of important data ahead. Technically, we continue to pay attention for signs of breakout in Dollar. In particular, we're talking about ranges of 1.1185/1382 in EUR/USD, 112.52/113.94 in USD/JPY and 0.9156/0.9274 in USD/CHF. At the same time, we'll monitor the next movement in Gold to confirm Dollar's direction. For now, more decline is expected in Gold as long as 1815 minor resistance holds. Break of 1761.76 will resume the fall from 1877.05 towards 1721.46 support next. In Asia, at the time of writing, Nikkei is up 0.87%. Hong Kong HSI is up 1.03%. China Shanghai SSE is up 1.00%. Singapore Strait Times is up 0.29%. Japan 10-year JGB yield is down -0.0025 at 0.054. |
