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Markets Pick Up Where They Left Off

FOREX
  • Currency markets are generally extending the moves seen late Friday, with USD/JPY making further progress off the Friday low of Y113.49 to recover back above the 50-dma at 114.28. This brings the next resistance at Thursday's high of 114.71 into view.
  • The move higher in USD/JPY coincides with modest strength in equities, with stock markets across Europe all in positive territory. Similarly, US futures are edging higher, with Friday's highs of 4667.00 in the e-mini S&P already under pressure.
  • Elsewhere, commodity-tied currencies are continuing to benefit from the bounce in risk, with the late rally in oil prices on Friday carrying through the boost CAD, AUD and NOK in early Monday trade.
  • The schedule for Monday is typically light, with the US public holiday expected to lighten activity and volumes further from the NY open. Canadian data takes focus, with the Bank of Canada's business outlook survey on the docket.
Energy BulletsCommodities
Energy BulletsCommodities

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