S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY held in a narrow band around 159.35, with a slight uptick in upward momentum. They expect this to translate into trading between 159.15 and 159.65 rather than a sustained advance. Over the coming weeks, they maintain a neutral stance, looking for range-bound price action between 157.90 and 159.80.
Dollar-Yen seen confined to broad band
“24-HOUR VIEW: Yesterday, USD traded within a range of 159.10/159.52, closing little changed at 159.39 (+0.06%). Although there has been a slight increase in upward momentum, this is likely to lead to a higher range of 159.15/159.65 rather than a continued advance.”
“1-3 WEEKS VIEW: Our most recent narrative was from Tuesday (25 Aug, spot at 159.15), when we highlighted that USD “is likely to trade in a range between 157.90 and 159.80.” Although USD traded in a quiet manner over the past few days, we continue to hold the same view for now.”
