26 May 2014
Very quiet Asian session expected - Westpac
FXStreet (Bali) - With the London and US markets off this Monday, Sean Callow, FX Strategist at Westpac, expects a very quiet Monday.
Key Quotes
"The US Memorial Day holiday and the UK bank holiday threaten to produce a very quiet Asian session. Australia’s focus will be on the return of parliament to debate the budget legislation, with the initial focus on the proposed increase in income tax (“levy”) for higher incomes, which will pass. Asia’s calendar offers limited distraction: Singapore’s April industrial production, a very volatile series. The 12.1% y/y reading in Mar seems prone to substantial pullback but most likely causing no damage to SGD."
Key Quotes
"The US Memorial Day holiday and the UK bank holiday threaten to produce a very quiet Asian session. Australia’s focus will be on the return of parliament to debate the budget legislation, with the initial focus on the proposed increase in income tax (“levy”) for higher incomes, which will pass. Asia’s calendar offers limited distraction: Singapore’s April industrial production, a very volatile series. The 12.1% y/y reading in Mar seems prone to substantial pullback but most likely causing no damage to SGD."