Trading in the forex markets is generally quiet in Asian session. Sterling's broad based recovery suggests that last week's steep pull back could have completed. Yen crosses are also mildly firmer on optimism over US-China trade deal. These two developments would be the focuses for the rest of the holiday week. Meanwhile, WTI crude oil and gold strengthen quite notably and are worth some attentions too. Technically, 1.3079 minor resistance in GBP/USD, 143.05 minor resistance in GBP/JPY and 0.8476 minor support in EUR/GBP would be watched. Break will indicate completion of recent pull back in the Pound. USD/JPY recovered after drawing support from 4 hour 55 EMA. Focus will be back to 109.72 resistance and break will resume larger rally from 104.45. That could take other Yen crosses higher too. In Asia, Nikkei is currently up 0.49%. Hong Kong HSI is down -0.15%. China Shanghai SSE is up 0.30%. Singapore Strait Times is down -0.36%. Japan 10-year JGB yield is up 0.0119 at -0.002. |
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