Quiet Morning in Asia

It has been a pretty quiet morning in Asia so far with nothing of note happening in the markets. The underlying theme has been the strength of the USD against EUR and the continued strength or the pound and NZD against everything else.

Market seems to be anxiously waiting for the outcome of the meeting at Jackson Hole and traders probably expect some dramatic news or guidance from there about the interest rate hikes in US. We do not believe that there would be anything dramatic emanating from the meeting at Jackson Hole and expectations are that the leaders to say things almost similar to what they have been saying all along.

We believe that the market will continue to be quiet for today and a large part of tomorrow till the outcome of the meeting becomes known. The USD will continue to be in focus during the coming weeks and months and we advise our traders to follow US economy updates.