Australian Dollar’s roller coaster ride continues today. Entering into European session Aussie is the strongest one for today, lifted by much stronger than expected retail sales data. At least, relative resilient in consumption could give RBA more time to wait and see before deciding to cut interest rates. Improvement in Chinese services data also helps. For now, New Zealand Dollar follows as the second strongest, then Canadian.
Yen is the weakest one today, followed by Dollar and then Swiss Franc. Stock markets in Asia are rallying for another day, Warnings from WTO, IMF and Asian Development Bank regarding slowdown are generally ignored. Meanwhile, Chinese stock markets seem to be rather optimism on US-China trade talks, which will resume in Washington today, despite lack of concrete details regarding the progresses. China Shanghai SSE is pressing 3200 handle for now.
In Asia:
- Nikkei closed up 0.97%.
- Hong Kong HSI is up 0.91%.
- China Shanghai SSE is up 0.57%.
- Singapore Strait Times is up 0.86%.
- Japan 10-year JGB yield is up 0.0244 at -0.043, still negative.
Overnight:
- DOW dropped -0.30%.
- S&P 500 rose 0.00%.
- NASDAQ rose 0.25%.
- 10-year yield dropped -0.016 to 2.481.
