Market Note

The BSE Sensex holds a narrow range as Asia session flow and global risk premiums dictate sentiment ahead of the New York open.

USD/CNH maintains stability as China hits its 2025 GDP target, offset by rising global risk premiums and thin MLK Day liquidity.

USD/JPY navigates thin MLK Day liquidity as U.S. tariff escalation risks drive a defensive JPY bid against a stabilizing interest rate differential.

Thermal coal markets face a quiet tape as traders navigate elevated policy uncertainty and the impact of USD firmness on delivered costs for global importers.

USD/JPY faces a defensive Yen bid as weekend trade-policy headlines involving Greenland tariffs create a risk premium ahead of the MLK Day holiday liquidity gap.

The S&P/TSX Composite faces a volatile week ahead as Canada CPI data converges with global tariff uncertainty and Monday's US bank holiday liquidity gaps.

NZD/CAD faces thin liquidity and headline-driven gap risks as US markets close for MLK Day, with trade policy uncertainty adding a 0.8005 risk premium.

GBP/CAD eyes 1.8650 resistance as markets price in a Europe risk premium amid US holiday liquidity gaps and trade policy uncertainty.

GBP/AUD tests the 2.0000 handle as markets price in a Europe trade-policy risk premium amid thin MLK Day liquidity conditions.

The Hang Seng faces heightened volatility as new tariff risks and policy uncertainty dominate the Asia market reopen ahead of the US holiday.

EUR/CAD faces increased volatility as European trade policy risks and MLK Day liquidity gaps dominate the Monday reopen.

EUR/AUD faces increased volatility as U.S. markets close for MLK Day, combined with a rising Europe risk premium following trade policy escalation threats.

CAD/JPY faces thin liquidity and trade-policy headwind gaps as US markets close for Martin Luther King Jr. Day.

CAD/CHF faces a complex re-open as U.S. markets close for MLK Day, leaving the pair sensitive to European trade-policy risks and thin liquidity gaps.

AUD/NZD faces thin liquidity and trade-policy headline risks as U.S. markets close for MLK Day, putting key support at 1.1550 in focus.

AUD/JPY faces a volatile Monday open as trade policy risks and US holiday liquidity constraints test the 105.000 support level.

AUD/CHF faces downward pressure as U.S.-Europe trade policy risks and thin MLK Day liquidity create a complex environment for the Monday open.

AUD/CAD faces thin liquidity and weekend gap risks as markets navigate U.S. holiday conditions and escalating trade policy tensions centered on Europe.

NZD/JPY faces elevated weekend gap risk at 91.22 as traders navigate Japanese intervention rhetoric and upcoming election volatility.

EUR/GBP price action remains dominated by relative central bank pricing and widening yield spreads between the Eurozone and the UK as the NY session takes over.