Yen strengthens broadly today as Asian stocks are weighed down by rather terrible Chinese trade balance data. Trade war with the US is hurting both exports and imports. But judging from the data alone, it's unsure who suffered more. Nevertheless, the situation could change in the months ahead as China has already promised to buy more US goods. And the trade negotiations between the two sides progressed well. There are a lot to look forward to regarding Chines Vice Premier Liu He's visit to Washington later in the month. For now, sentiments has turned a bit weaker. Following Yen, Sterling is the second strongest one for today. The Pound is being supported by surging chance of a Brexit delay, or even no Brexit at all. Meanwhile, the chance of of no-deal Brexit is somewhat remote as the MPs look determine to prevent it from happening. Staying in the currency markets, Australian Dollar leader other commodity currencies lower. Dollar is mixed getting no special help from risk aversion. In other markets, Japan is on holiday. Hong Kong HSI is currently down -1.55%. China Shanghai SSE is down -0.71%. Singapore Strait Times is down -0.46%. DOW futures are down -0.76%. WTI crude oil is back below 51 and that may weigh down on Canadian Dollar a little bit. |
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