Asian markets are relatively mixed in quiet trading as another week starts. Hong Kong stocks dip mildly following Sunday’s protests against the national security laws. But some optimism is seen in Japan with Nikkei’s rise. Movements in the stock indices are limited anyway. Sterling is trading mildly higher, followed by Canadian and then Aussie. Euro, Swiss and Yen are the weaker ones. But major pairs and crosses are generally bounded inside Friday’s range. Trading might continue to be subdued with UK and US on bank holiday today.

Technically, Euro might be a focus for today as EUR/USD, EUR/JPY and EUR/CAD are all struggling around 4 hour 55 EMA. Sustained trading below these levels could prompt some more downside for the common currency. In particular, EUR/CAD’s recovery from 1.0566 is clearly corrective in nature. Sustained trading below the 4 hour 55 EMA (now at 1.5242) will suggest that it’s completed at 1.5322 already. Further fall could be seen to 1.5165 minor support for confirmation, and then retest of 1.5052/5066 support zone.
In Asia, currently, Nikkei is up 1.45. Hong Kong HSI is down -1.0%. China Shanghai SSE is down -0.03%. Singapore market is closed. Japan 10-year JGB yield is up 0.0072 at 0.001.


Source: www.actionforex.com