 Yen trades mildly higher in quiet Asia today, while trading is also subdued in other markets. Sterling is trying to recover some of last week's losses, but momentum is relatively limited. On the other hand, Swiss Franc and Euro are turning softer, partly due to retreat in crosses against the Pound. Overall, the economic calendar is very light today. Comments from Bundesbank's Weidmann, BoE's Haldane, and Fed's Williams might trigger some jitters. But the big moves would likely come back in the week with the heavy weight economic data scheduled. Technically, we'd maintain that Dollar's retreat last week was weak and recent rebound is still mildly in favor to continue. EUR/USD, GBP/USD, USD/CHF and USD/CAD are all struggling to break through 4 hour 55 EMAs. We'll keep an eye on the movements today and tomorrow, to see if, say, EUR/USD is heading back to 1.1846 temporary low. That might set up the stage for a breakout later this week on ISM and NFP. In Asia, at the time of writing, Nikkei is down -0.10%. Hong Kong is off on black rain warning. China Shanghai SSE is down -0.06%. Singapore Strait Times is up 0.25%. Japan 10-year JGB yield is up 0.038 at 0.055. |
