Yen at Risk as Stocks Rise, Aussie Dollar Down on Local Politics


(MENAFN- DailyFX)

TALKING POINTS CANADIAN DOLLAR, AUSSIE DOLLAR, ASX 200, STOCKS, YEN

Canadian Dollar retracing higher after Friday's CPI-inspired selloff ASX 200 , Aussie Dollar down as Liberals lose parliamentary majority Japanese Yen at risk as stock index futures point to risk-on sentiment Major currencies started the trading week in a consolidative mood, with a bare-bones economic calendar seemingly leaving markets rudderless. The Canadian Dollar edged narrowly higher, retracing after Friday's steep decline on the back of .

Meanwhile, the Australian Dollar fell and the local ASX 200 equity benchmark gapped lower amid . A loss of former Prime Minister Malcolm Turnbull's seat to an independent candidate in aweekend election means the ruing Liberals have lost their majority in Parliament.

YEN MAY FALL AS MARKETS START WEEK IN A CHIPPER MOOD Looking ahead, a sparse offering of scheduled event risk seems likely to keep sentiment trends at the forefront. Bellwether European and US stock index futures are pointing convincingly higher, hinting at an upbeat bias. That probably spells trouble for the perennially anti-risk Japanese Yen.

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