ASIA session review: market calm amid lack of news

The market still discusses Friday’s ECB’s Novotny speech. Novotn noted cautious optimism concern EU economy conditions. Moreover, he said that a recent “stream of good news” from the euro-area economy has removed any need to cut interest rates from an already record low. However, despite of strong data a lot of European countries are still in recession. 

ЕURO 

The Euro gradually sliding amid lack of news. 

EUR/USD trades in the middle of upward channel on daily charts. Levels 1.3275 and 1.3515 are supportand resistance respectively. Breaking through any of it will acelerate move of single currency. Initial suport is at 1.3340. Also resistances are at 1.3420 and 1.3460. 

POUND 

The pound trades in narrow range. UK markets are closed for the Summer Bank Holiday. 

GBP/USD is sliding and initial support is at 1.5540. Key support is at 1.5480. Resistance is at 1.5640, more important - near 1.5720. 

YEN 

The yen still is in a correct move after testing 3-weeks low. 

USD/JPY stuck in the narrow range. Levels are the same as on Friday. Support is at 97.80. Resistance - at 99.10. Further - at 99.50. 

DATA AHEAD: 

Аt 12:30 GMT Durable Goods Orders (Jul) 

At 14:30 GMT Dallas Fed Manufacturing Business Index (Aug)

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