Tuesday, July 19, 2016

· Risk-on tone is expected with rising attention on JPY, GBP and CNY



Highlights of today’s FX Daily Outlook as follow:-

·         Risk-on tone is expected with rising attention on JPY, GBP and CNY
·         Expect EUR/USD to trade in a consolidative fashion, in a trading range of 1.100-1.110
·         Expect the 100-day MA of 108.44 as immediate resistance for USD/JPY
·         Bearish bias of commodity prices, depreciating CNY against USD and rebound in cross SGD/MYR is expected to drive USD/MYR

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