The markets open a holiday-shortened week in a quiet note. Canadian Dollar is trading mildly lower, following retreat in oil prices. The giant container that blocks the Suez Canal, Ever Given, is finally starting to refloat, partly thanks to higher-than-usual spring tides. Elsewhere in the forex markets, Dollar and Yen are currently the firmer ones, but both stay inside Friday's range. With a light economic calendar today, trading could remain subdued. Technically, WTI crude oil turned sideway after hitting 57.31 last week. But recovery is limited below 62.00 resistance so far. Deeper fall is still in favor to 38.2% retracement of 33.50 to 67.83 at 54.71 before completing the correction from 67.83. That could drive the Canadian Dollar's next move this week. In Asia, currently, Nikkei is up 1.00%. Hong Kong HSI is up 0.27%. China Shanghai SSE is up 0.79%. Singapore Strait Times is up 0.62%. Japan 10-year JGB yield is up 0.0038 at 0.084. |
