Yen softens mildly in quiet Asian session, accompanied by the rebound in Nikkei, as markets digest Prime Minister Shinzo Abe's resignation. Dollar is also paring some of last week's steep losses. But overall, major pairs a crosses are bounded in very tight range. Economic data from Japan and China are ignored. New Zealand Dollar also pays little attention to lockdown easing. Focuses are on the busy calendar ahead, with RBA rate decision tomorrow as the first main event. Technically, 1.1965 resistance in EUR/USD, 0.9009 support in USD/CHF and 105.10 support in USD/JPY would be the focuses for now. They will determine whether Dollar could find some breathing space elsewhere, or the selloff would accelerate. Also, traders could turn to crosses with EUR/GBP extending the decline from 0.9175 towards 0.8864 support. EUR/AUD could also edge towards 1.6033 low. In Asia, Nikkei closed up 1.12%. Hong Kong HSI is up 0.18%. China Shanghai SSE is up 0.15%. Singapore Strait Times is up 0.05%. Japan 10-year JGB yield is down -0.0088 at 0.050. |
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