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HK Equities Retrace Early Gains, US Equity Future Holding Firmer, USD Little Changed

CROSS ASSET

Early Hang Seng gains haven't been sustained. After being up as much as 0.6%, the HSI is back to -0.40% at the time of writing. US Equity futures are holding onto early gains, e-minis are up ~0.15. Regional equities are mostly lower ex Japan. Overall, the mood still appears cautious as we approach the weekend.

  • The BBDXY is little changed from opening levels. The kiwi is pressured, NZD/USD is down ~0.3% as the pair ticks away from $0.63 handle. AUD/USD is marginally pressured and sits a touch below $0.67.
  • US Treasury Yields are a touch lower across the curve, however ranges have been narrow with little follow through.
  • WTI futures sit ~0.4% lower. The Bloomberg Commodity Index is down ~0.3% and sits at weekly lows.

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