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Japanese Holiday Keeps Activity Subdued

FOREX

The yen marginally underperforms in G10 FX space as e-minis have inched higher, albeit are yet to test yesterday's best levels. A Tokyo holiday has been denting activity thus far, headline flow has been light and regional data docket is almost empty.

  • On the EM front, USD/MYR has edged lower ahead of the impending monetary policy decision from BNM. Most analysts expect Malaysian policymakers to stand pat today.
  • Elsewhere, RBA monetary policy decision headlines in the Asia-Pac region today, then focus turns to U.S. factory orders & final durable goods orders, as well as comments from ECB's Knot and Riksbank's Ingves & Breman.
  • It goes without saying that any early results of the U.S. election will steal the limelight in NY hours.

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