23 Jul 2013
Flash: Summertime lull’s - OCBC
FXstreet.com (London) - Emmanuel Ng, strategist at OCBC notes the summertime lulls.
Key Quotes:
“Amid cited profit taking, the JPY weakened across the board on Monday after the weekend Upper House elections”.
“Elsewhere, the USD also retreated broadly against the majors (with US June existing home sales disappointing) as greenback bulls continued to be put on the defensive”.
“On other fronts, the EUR was also supported after Portuguese President Silvia ruled out a snap election, averting political tensions”.
“Going ahead, expect markets to be reduced to data watching although key event/data risks are expected to emerge only on Wednesday with Australian CPI numbers, EZ PMIs, as well as the flash HSBC China manufacturing PMI”.
Key Quotes:
“Amid cited profit taking, the JPY weakened across the board on Monday after the weekend Upper House elections”.
“Elsewhere, the USD also retreated broadly against the majors (with US June existing home sales disappointing) as greenback bulls continued to be put on the defensive”.
“On other fronts, the EUR was also supported after Portuguese President Silvia ruled out a snap election, averting political tensions”.
“Going ahead, expect markets to be reduced to data watching although key event/data risks are expected to emerge only on Wednesday with Australian CPI numbers, EZ PMIs, as well as the flash HSBC China manufacturing PMI”.