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Markets Little Changed Ahead Of US Holiday

CROSS ASSET

MNI (Australia) - There has been little reaction in APAC trading so far today to the weekend’s news from the Middle East and Taiwan. With US markets either closed or with limited trading hours today for the Martin Luther King holiday, asset moves generally have been limited at this juncture. There is also little data with the focus on China’s 1-year MLF which is expected to be cut 10bp.

  • Equity markets are little changed with the Nikkei flat and the ASX down 0.1%. The S&P e-mini is 0.1% lower.
  • The BBDXY USD index is up slightly but off its earlier high of 1225.93. AUDUSD is flat at around 0.6687, USDJPY down 0.2% to 145.12, USDKRW -0.2% to 1316.80 and NZDUSD -0.2% to 0.6228.
  • Oil prices are yet to rally further on Middle East tensions with WTI down 0.2% to $72.57/bbl. After rallying on Friday, gold prices are little changed during APAC trading.

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