 The financial markets are relatively quite in Asia today. Stocks turned mixed following the pull back in US overnight. But losses are limited while the resilient Chinese SSE is having slight gain. Chinese government lowered 2019 growth target to 6.0-6.5%, with the lower bound at lowest pace in more than three decades. But the move was widely expected and thus triggered little reactions. RBA kept interest rate unchanged at 1.50% as widely expected. It maintained the central scenarios of growth, inflation and employment forecasts. The tone of the statement is a touch more optimistic comparing to February's. But it's also largely shrugged off by the Australian Dollar. Focus will now turn to services data from UK and US today. In the currency markets, Dollar is trading as the strongest one for today so far. Recent rally in treasury yield is giving the greenback some additional support. Yield curve has also become less inverted. 5-year yield at 2.531 is now back above 6-month yield at 2.504. Ad it's not far from 1-year yield at 2.557. But while the greenback looks solid, it has yet to take out important resistance level against Euro, Swiss Franc, and not even Aussie and Canadian. Staying in the currency markets, Euro and Swiss franc are next strongest. Commodity currencies are weakest as led by New Zealand Dollar. In Asia, Nikkei closed down -0.54% at 21703. Hong Kong HSI is down -0.16%. China Shanghai SSE is up 0.07%. Singapore Strait Times is down -0.58%. Japan 10-year JGB yield is up 0.0057 at 0.007, staying positive. Overnight, DOW dropped -0.79%. S&P 500 dropped -0.39%. NASDAQ dropped -0.23%. 10-year yield dropped -0.033 to 2.722. | 
No comments:
Post a Comment