The markets are rather quiet in Asian session with Japan on holiday. Some selloff is seen in Hong Kong stocks but others simply ignored. The forex markets are generally stuck inside Friday's range, with Dollar and Swiss Franc trading with a soft tone. On the other hand, Aussie and Sterling are so far the firmer ones. But again, range is tight and trading could remain subdued with a thin calendar today. Technically, a focus is on whether Sterling has completed last week's corrective recovery. Levels to watch include 1.2762 in temporary low in GBP/USD, 0.9291 temporary top in EUR/GBP and 134.57 temporary low in GBP/JPY. Or, Sterling is indeed staging a strong rebound through 1.3035 minor resistance in GBP/USD, 0.9067 support in EUR/GBP and 136.58 resistance in GBP/JPY. We're preferring the former case but let's see. In Asia, currently, Hong Kong HSI is down -0.97%. China Shanghai SSE is down -0.42%. Singapore Strait Times is up 0.26%. Japan is on holiday. |
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