Yen's broad-based rally continues in quiet Asian session today. Dollar and European majors are generally steady. Some weakness is seen in Aussie and Canadian, but selling is so far limited. In other markets, sentiment is mixed with slight recovery seen in some Asian stock markets, including Japan. Gold is consolidating last week's gain and remains firm. A lot of important events are scheduled for the week, including two central bank meetings and some market-moving economic data. Technically, a major focus remains on when a breakout will happen in EUR/USD. For now, break of 1.0277 minor resistance is in favor. In that case, further rise should be seen to channel resistance at around 1.0460. But even if that happens, it would be interesting to see if it's accompanied by deeper correction in Dollar, or a stronger rebound in Euro elsewhere, or both. In Asia, at the time of writing, Nikkei is up 0.62%. Hong Kong HSI is down -0.32%. China Shanghai SSE is up 0.16%. Singapore Strait Times is up 0.89%. Japan 10-year JGB yield is up 0.0077 at 0.191. |
