• Economic calendar is fairly light during Asian trade; Japanese GDP and their tertiary industry index are important releases but the currency market usually ignores them:
  • China’s trade surplus for October was much better than expected at $32 billion and this should shape risk-sentiment during Asian trade:
  • Wall Street rebounded somewhat on Friday which should also boost regional equity markets:
  • EUR/USD: Fell on more Greek worries but Asian central bank bids helped stall losses below 1.2700. Main levels to watch, 100-day MA near 1.2630 and prior lows near 1.2805:
  • AUD/USD: Should find support from improved risk sentiment and reserve manager bids at 1.0350. Initial resistance, hourly highs at 1.0440:
  • USD/JPY: Large barrier at 79.00 with institutional bids ahead of there. Resistance should be firm 79.90/80.00: