Market Update - 28 May 2013

• With New York and London out yesterday, there is not much for me to report today as it was pretty much a quiet quiet market overnight and this morning so far.

• USDMYR opened a touch higher this morning at 3.0350 as EURUSD trades lower at 1.2890 and AUDUSD hits support level of 0.9600. No change in the expected trading range at 3.0100-3.0600 for today and with little data expected this week and NY and London only coming back in after we are off, im expecting a quiet day ahead.

• Gold rose to 1,395 from the Friday close at 1,388, as the precious metal attains a bid tone from the volatile markets in Japan due to hedging activities.

• European equity markets had some gains but we reckon the correction in markets will be the key theme next few weeks. The German DZX rising 0.94%; the French CAC ended the day with a 0.97% gain; the Milan Index surged 1.55% higher while the Spanish IBEX ended the day up 1.2%.