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Forex Flash: Constructive on Asian currencies - ANZ

“Asian currencies have been resilient in the face of recent US dollar strength,” says Senior FX Strategist at ANZ Khoon Goh. “In part this reflects continued positive investor interest in the region and a stronger CNY,” he expands, adding: “Given improving Emerging Asia growth prospects, strong fundamentals and ample liquidity, we see little reason for foreign investors to exit,” he concludes.

“Therefore, we retain our constructive view on Asian currencies. We are currently long KRW, CNY & CNH, PHP, INR; and short IDR, SGD,” the analyst suggests.

Forex: EUR/USD eyes US retail sales

Looks as if markets are waiting for something to happen. That something could be the key risk event ahead in the form of US retail sales data, due at 12:30 GMT, 1 hour earlier than usual as the US shifted to daylight saving time this past weekend. This indicator is a market mover by definition, and this time could be no exception, as expectations are high for figure in upper +0.5% range, when previous came in at a tiny +0.1%.
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