 Sterling opens the week sharply and broadly lower as it's getting less and less likely to complete a Brexit deal within November. Yen is the second weakest as Asian stocks recover mildly after last week's selloff. Meanwhile, Euro is following as the third weakest at the time of writing. On other hand, Canadian Dollar is the strongest one, helped by rebound in oil prices. New Zealand Dollar and Dollar follow. Nevertheless it's still early in the week and trading is usually subdued in Monday Asian session. The picture could change quite drastically as the day goes on. In other markets, Nikkei is currently up 0.14%. Hong Kong HSI is up 0.31%. China Shanghai SSE is up 0.67%. But Singapore Strait Times is down -0.22%. 10 year JGB yield is nearly unchanged at 0.126. WTI crude oil is up 1.25%, pressing 61. Gold is back pressing 1210 after defending 1200 for now. Technically, GBP/USD's break of 1.2951 minor support now suggests that rebound from 1.2692 has completed. Deeper fall is in favor to retest 1.2661/92 key support zone. Otherwise, there is no significant development so far. Focuses will stay on 1.1300 key support in EUR/USD and 1.0094 resistance in USD/CHF to confirm underlying strength of Dollar. Also, 128.60 in EUR/JPY and 146.28 in GBP/JPY will be watched to see if Yen is staging a near term reversal. | 
No comments:
Post a Comment