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 MarketUSD is likely to trade in a range between 6.9740 and 6.9900. In the longer run, outlook for USD is neutral now; it is likely to trade between 6.9660 and 7.0160, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
USD/CNH is likely to trade in a range between 6.9740 and 6.9900
24-HOUR VIEW: “We highlighted yesterday that ‘there has been a tentative increase in upward momentum, and USD could test the resistance at 6.9950’. We added, ‘a break above this level is not ruled out, but given the tentative momentum, any further advance is unlikely to reach 7.0050’. While we were not wrong, as USD rose to a high of 6.9956, we did not expect the sharp pullback to a low of 6.9788. Upward pressure has eased with the pullback, and today, we expect USD to trade in a range, most likely between 6.9740 and 6.9900.”
1-3 WEEKS VIEW: “Yesterday (08 Jan, spot at 6.9900), we highlighted ‘the outlook for USD is neutral now’. We expected it to ‘trade between 6.9960 and 7.0160’. Our view remains unchanged.”
