Asian markets are trading up mildly as the week starts, after coronavirus deaths in New York State fell for the first time. Italy also reported the fewest deaths in more than two weeks. However, investors remain cautious as it's still almost impossible to forecast the full impact of the pandemic. In the currency markets, Yen and Swiss Franc are the weaker ones. They're joined by Sterling on news that Prime Minister Boris Johnson was hospitalized after suffering persistent coronavirus symptoms for 10 days. Australian Dollar is leading other commodity currencies higher. Technically, Yen's rally attempt lost momentum since late last week. Focus will be on 109.70 minor resistance in USD/JPY, and break will put 111.71/122.22 resistance zone back into focus. 118.87 minor resistance in EUR/JPY will also be watched and break will suggest that 115.86/116.12 support zone was defended, and bring stronger rebound to 121.14 resistance. Meanwhile the persistence in Sterling's weakness will also be noted too. Break of 1.2144 minor support in GBP/USD and 0.8987 minor resistance in EUR/GBP will open up more downside for the Pound. In Asia, currently, Nikkei is up 2.19%. Hong Kong HSI is up 1.11%. Singapore Strait Times is up 2.47%. China is on holiday. Japan 10-year JGB yield is up 0.0129 at 0.004. |
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