 Asian markets open the week generally lower as there is no sign of even a slowdown in coronavirus pandemic. The US has also given up hope for returning to normal by Easter. Yen strengthens generally, followed by Dollar. Meanwhile, Sterling and Euro are giving up some gains. Movements in the currency markets are so far limited. But more volatility is expected given an extremely busy week ahead. Technically, a major focus for the week is whether last week's recovery in stocks have completed. For the currency markets, 106.75 support in USD/JPY would be watched. Firm break there could be a sign of come back of risk aversion. Also, in that case, it's uncertain for now whether selloff in USD/JPY would translate into rally in Yen elsewhere, or decline in Dollar, or both. We'll have to wait and see. In Asia, currently, Nikkei is down -3.23%. Hong Kong HSI is down -1.45%. China Shanghai SSE is down -1.42%. Singapore Strait Times is down -3.86%. Japan 10-year JGB yield is down -0.0127 at -0.003. |
No comments:
Post a Comment