It’s been a very quiet session on the Asia-Pac side with very little notable news releases or fundamental news.
The biggest focus for markets have been the continued weakness in the JPY which saw the USDJPY trade very close to the 161 level, but has since backed off the highs.
Looking at the price action across major asset classes is worth keeping in mind that messy price action is what we would expect in weeks where we have quarter-end flows in the mix.
When we see the type of flows we have so far this week without any meaningful fundamental catalyst, it means we need to take what we see with a pinch of salt.
Be careful out there.
Risk sentiment pretty mixed as Asia-Pac comes to a closeGoldman likes med-term USD upside ahead of the US electionCrédit Agricole on what a labour victory means for SterlingToday’s economic calendarJapan Chief Cabinet Secretary says won’t comment on FX levelsJapan’s Suzuki saying watching FX moves with a high sense of urgencyPBoC injects 100 billion Yuan via 7-day reposChina industrial profits YY 3.4% vs 4.3% priorPBOC sets USD/ CNY reference rate for today at 7.1270 (vs. estimate at 7.2765)New Zealand Business Outlook 6.1 vs 11.2 priorPBOC is expected to set the USD/CNY reference rate at 7.2765JPY strength picking up a bit during Asia-Pac so farJapan retail sales YY 3.0% vs 2.0% expectedScotia thinks the June BoC cut was a policy mistakeConsumer discretionary and comms on sectors in the green todayCommodities had a mixed day overall with platinum soaring while natgas wet the bedThe USD and AUD the leaders while JPY and NZD the laggardsTesla led the charge for the mag 7 with Google down but close to flatNorth Korea says it has successfully conducted important test in missile technologyUSDJPY flirting with 161 with intervention watch in overdriveFed stress tests says banks reported higher losses than in 2023 tests
This article was written by Arno V Venter at www.forexlive.com.
