The finance markets turned mixed in Asian session today. Yen was sold off overnight, following the strong rebound in US treasury yields. In particular 30-year yield staged the biggest rise in a about a month and looks completed the consolidation from 3.109. But there is no follow through selling in Yen so far. Nevertheless, Yen remains the weakest one for the week. Sterling is the strongest one on fading risk of no-deal Brexit. While the events in the past 24 hours were rather high profile, little reactions were triggered. USTR Robert Lighthizer's testimony on China trade talk, Fed Chair Jerome Powell's testimony and Trump-Kim summit in Vietnam are shrugged off. Swiss Franc was briefly shot up by Pakistan-India tensions but there was no follow through buying. Markets could be awaiting Q4 GDP from the US for the next move. Technically, Sterling aside, direction in the forex markets is not clear. Dollar weakened this week against Euro, and Swissy but downside momentum looks to be diminishing. USD/JPY and EUR/JPY remains bounded in tight range. AUD/USD and USD/CAD are also staying in familiar range too. Again, US GDP could be the trigger for breakouts. In Asia, Nikkei is down -0.35%. Hong Kong HSI is up 0.10%. China Shanghai SSE is down -0.35%. Singapore Strait Times is down -0.57%. Japan 10-year JGB yield is up 0.0002 at -0.024. Overnight, DOW dropped -0.28%. S&P 500 dropped -0.05%. NASDAQ rose 0.07%. 10-year yield rose 0.057 to 2.693. 30-year yield rose 0.063 to 3.069. |
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