HK Overnight Wrap
Very quiet Asian session as the market seemed to have been chopped out of most short term positions overnight and now sitting tight and waiting for the headlines and voting to start from Greece.
You can watch it as it on here http://bit.ly/ljTmX8 Long story short above 155 votes will be viewed positively (OXI = No in Greek!)
Probability of a pass of the two important votes is very high. A no vote doesnt bare thinking about at this stage.
EUR should get a lift on a YES. i dont think it’s a rumour / fact story.
O/N
USD/Asia opened a touch softer, but a slightly disappointing CNY fix following the rally in EURUSD based the Asian pairs. With stock futures in the red the dollar ticked a little higher squeezing EURUSD down to 1.4338 and Aud to 1.0520. However with little going on through the morning, pairs eventually ticked higher off their lows but overall in extremely small ranges.
EURUSD orderbook remains light ahead of the Greek vote later today with bids below collecting around 1.4200.
USDJPY Mkt is getting long as it notes the jumps in US yields finally.
Odapad has little on the top with stops on the downside 80.70-75.
Some exporter selling at the Tokyofix noted onite.
USD/Asia run
USDKRW 1079.5 (Tuesday London Open 1084.5)
USDTWD 28.86 (28.895)
USDCNY 1yr 6.3930 (6.4005)
USDPHP 43.66 (43.76)
USDIDR 8665 (8660)
USDINR 45.12 (45.18)
USDMYR 3.0420 (3.0570)
USDSGD 1.2380 (1.2430)
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