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Equities to continue being pressured - Westpac

FXStreet (Bali) - Equities are likely to continue pressured in Asia today given the equity market weakness seen overnight, notes Sean Callow, FX Strategist at Westpac.

Key Quotes

"Yesterday saw continued net equity outflows from the likes of Korea (USD150mn) and Taiwan (just under USD200mn). This trend is likely to continue today given the equity market weakness seen overnight. The USD/CNY fix should be fairly steady, with the DXY only up modestly from levels seen yesterday morning. Still, dips in most USD/Asia pairs should remain well supported. A test of important support at 115.50 in the ADXY seems a real risk over the next few sessions. The main focus on the data front will be Singapore IP, due out at 1pm Singapore time."

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