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Not much lift for Asian equities from Chinese data - Societe Generale

FXStreet (Łódź) - Kit Juckes, Global Head of Currency Strategy at Societe Generale points out that Asian stocks didn't receive much of the boost from the better-than expected Chinese GDP and Industrial Production data.

Key Quotes

"The yen's strength matches the fall in the Nikkei, and the continued softness of US rates."

"Setting new yen shorts is only really advisable when global equities look to have found a more durable base and the downtrend in US rates is over."

"Last Wednesday's low at USD/JPY 105.50 is key support now, and needs to hold before we will think about re-instating yen shorts."

"More widely, a US 10yr Note yield chart looks ugly. Beware the risk of another bond bear-bashing day."

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EUR/GBP is now putting the critical 0.7900 support to the test on Tuesday, dropping from intraday highs above 0.7940....
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