The financial markets are generally steady in Asian session today. Dollar turns slightly softer against Euro and commodity currencies, but losses are so far limited. Though, Sterling is clearly weak as pressured by speculations of BoE rate cut. The Pound will face some more challenges from economic data this week, before heading to BoE meeting on January 30. Overall, trading would remain subdued today with US on holiday. But volatility will heat up with three central bank meetings scheduled later in the week. Technically, immediate focus in on 1.1085 support in EUR/USD. Break will resume the decline from 1.1239. A head and shoulder top pattern would be completed too, which turns near term outlook bearish for 1.0981 support. Correspondingly, 0.6849 support in AUD/USD is another level to watch too. Break will also reaffirm near term bearishness for 0.6754 support. In Asia, Nikkei closed up 0.18%. Hong Kong HSI is down -0.69%. China Shanghai SSE is up 0.43%. Singapore Strait Times is down -0.23%. Japan 10-year JGB yield is up 0.0075 at 0.008. |
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