Published at 00:39 (GMT) 12 Nov

Forex Market Alerts

Into the Far East morning the greenback is being marginalized; Gold is at a record high; and while the EUR is not, it's ascend back up above the 1.50-figure again was given a boost by the strong Aussie job data. USD/SGD has slumped to sub-1.3870 levels with the next two 1.3850 and 1.3835 levels on the radar ahead of stronger technical support at 1.3818. USD/MYR is also looking to break below the 3.3730 handle next ahead of 3.3680 support after that. Some CNY proxy trades are also in play today as PBoC augmentation of FX policy comments that have been read as willingness for greater CNY flexibility/upside has also caused a stir. We expect that the firm EUR and soggy USD may continue to bias the USD/SGD and USD/MYR lower in a.m. trades, but intervention risks are not seen substantially eroded by these dynamics, and chances are that the PBoC CNY comments may be bordering on being oversold. VV