Free Trial

Firmer Overnight Equities Support Risk Through European Open

CROSS ASSET
  • Asia-Pac trade happy to sell USD/JPY and pull the rate off the higher levels posted yesterday. Price action and volatility picked up through the European open after the volume surge and price correction lower - but markets still wait for any official confirmation of intervention across October as we await the BoJ's reserves update on Tuesday next week.
  • Firmer overnight trade in equity markets has proved supportive of risk, evident in the sharp bounce for Asia-Pac equities: The Hang Seng is 2.4% higher headed into the close as real estate names benefit from property tax relief headlines earlier in the week. Hong Kong also saw the second largest IPO of the year debut, with J&T Global Express now listed.
  • Resultingly, US futures are firmer adding to late Thursday gains as Amazon earnings beat forecast (higher by 5.3% post-market) and aiding the bid in AUD: AUD/USD has recouped 75 pips off yesterday's lows.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.