It was a relatively quiet Asia-Pac session for markets.
The presidential debate saw mostly muted market reactions as we didn’t really learn much from it.
The USD saw some initial upside at the start of the debate, but some of the move moderated as the debate drew to a close.
Equity markets are well supported as we start the EU session, with upside seen across North American, EMEA and Asia-Pac equity futures.
Commodities have traded mostly mixed, and continues to be a tricky market to pin down on the fundamental side.
Market attention will turn to today’s inflation data (prelim data expected for France, Spain and Italy as well as US PCE later on). However, with everything else going on right now I’m not sure how much attention markets will place on these events today.
Have a fantastic Friday!
What money markets expect from central banks at their upcoming meetingsWhat did we learn from the presidential debate?Japan’s Suzuki says rapid FX moves are undesirableAsia-Pac equity futures not too bothered by the debate at the momentJapan MoF replaces currency diplomat Kanda with Atsushi MimuraUSD pushing ahead as the presidential debate carries onAustralia private sector credit 0.4% vs 0.5% priorPBoC injects 50 billion Yuan via 7-day reverse repos at a rate of 1.8%PBOC sets USD/ CNY reference rate for today at 7.1268 (vs. estimate at 7.2727)Presidential debate highlights and commentsUSDJPY hits another fresh 38-year highABN AMRO predicting a year-end price of USD 2,000 per ounceRBA Hauser comments a possible headwind for AUD longsPBOC is expected to set the USD/CNY reference rate at 7.2727Today’s economic calendar 28 June 2024Japan Industrial Production 2.8% vs 2.0 expectedJapan Tokyo Core CPI YY 2.1% vs 2.0% expectedUS Campbell regarding China’s destabilizing actions in South SeaGrab your popcorn for the upcoming presidential debateEU has agreed to give Ursula von der Leyen a second termAnother mixed session for commoditiesWas a relatively calm session for the big 7US preparing to evacuate Americans from Lebanon as tensions remains high
This article was written by Arno V Venter at www.forexlive.com.
